NOVEL NEXT Chapter 360 Completely Lost
Old Master Chen narrowed his eyes, "What do you mean?"
Xu Yang smiled, "You should be very clear about what I mean. You've embezzled twenty billion from clients, and the people at the Financial Management Bureau know it. What do you think they will do to you?"
The Financial Management Bureau, which now oversees banking, securities, insurance, and other financial industries, is a national ministry-level agency directly under the leadership of the State Council.
For such matters, once discovered, they are dealt with utmost speed and severity.
Anyone targeted by the Financial Management Bureau can't escape.
Embezzling twenty billion might not equate to a death sentence, but at Old Master Chen's age, he wouldn't expect to see the outside of a prison again in his lifetime.
Cold sweat immediately broke out on Old Master Chen's forehead, but he still forced himself to say calmly, "Who said I embezzled twenty billion from clients? I haven't done anything. Accusing me like this, be careful I sue you for slander!"
Xu Yang chuckled, "Alright, then go ahead and sue me. We'll see whether the Financial Management Bureau comes for you first, or you manage to sue me first!"
With that, Xu Yang hung up the phone.
Old Master Chen put down his mobile phone and immediately said, "Sell Northern Steel Company's stock right now to cash out twenty billion. The clients' funds must be returned today."
The butler was shocked, "Cash out twenty billion today?"
He checked the time; it was already two o'clock in the afternoon. There was only one hour left before the market closed at three.
Cashing out twenty billion in one hour is no small feat; it is impossible to complete at the normal price, only if the shares are sold at a significantly reduced price.
This was tantamount to crashing the market.
By the time the stocks were sold, who knew how low the price of Northern Steel Company would fall.
The butler opened his mouth as if he wanted to say something, but seeing Old Master Chen's bloodshot eyes, he seemed to understand something and immediately changed his tone, "Alright, I will sell right away!"
After saying that, he immediately began to execute the sell order.
Old Master Chen kept an eye on the butler's operations, noticing the butler's slow pace in placing the sell orders, obviously trying to minimize the loss as much as possible.
This approach, under normal circumstances, would have been appreciated by Old Master Chen.
But not now.
After all, there was only one hour left.
If they couldn't sell and retrieve the funds to repay the clients' money, a simple report from Xu Yang would draw the Financial Management Bureau to him like sharks to blood.
Thus, he said irritably, "Don't dawdle. Just put in a low price and actively sell."
"Okay," the butler answered, and immediately executed the sell order.
But as he was about to sell at eight and a half, the price plummeted directly to eight.
"How could this be?" Old Master Chen exclaimed in shock.
"Master, Xu Yang must have made his move again. He doesn't want us to sell at a high price. I guess his plan is to push the price extremely low, directly buy in at the bottom, and take over the stocks we are selling. After all, with a bull market, the stock prices are bound to rise back eventually," the butler analyzed.
"That bastard!" Old Master Chen cursed, almost spitting out a mouthful of old blood.
He never imagined that one day he would be schemed against to this extent.
It was as if he was being treated as wheat to be harvested.
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Even knowing Xu Yang's intent, he was powerless to counter it.
He had to sell the stocks.
If he didn't sell and couldn't retrieve the twenty billion in funds to repay the clients' money, he would be finished.
At that moment, Zheng Kaiyang spoke up, "Old Master, should I move the money from my Swiss bank account to cover you in the meantime?"
Old Master Chen glanced at him, "Move it out? By the time you can move it, I'll already be in prison!"
Zheng Kaiyang's account is a US dollar account with a Swiss bank; converting it to Huaxia currency isn't that easy.
It's impossible today, and whether it can be done tomorrow remains to be seen.
Zheng Kaiyang knew he had assumed too much and immediately fell silent.
He also realized the situation, and it was just out of desperation that he had suggested such a thing.
Old Master Chen said to the butler, "Just hang it at seven."
The butler had just adjusted the price, and before he could place the order, the market price had already crashed to six.
By this time, the stock price of Northern Steel Company had collapsed.
A torrent of sell orders appeared; Xu Yang didn't even need to smash the price anymore.
Old Master Chen gritted his teeth and said, "Set it at five yuan!"
Old Master Chen immediately did so, but still failed to succeed, and the price of Northern Steel Company was smashed down to four yuan.
Old Master Chen bellowed, "Hang it at three yuan!"
But as soon as he shouted, the price dropped to two yuan.
At two yuan, the price finally stopped falling and did not decline any further.
Moreover, there was a large number of buy orders hanging there.
Looking at the quantity of the buy orders, it was almost the same as the number of his sell orders.
Clearly, this was again Xu Yang's doing.
He intended to bottom-fish at this price.
Old Master Chen felt his head spin, almost fainting.
Xu Yang was too ruthless!
He did the math; selling at two yuan would only recover twelve billion.
That wasn't even enough to repay the client funds, and he could only continue to sell the other two stocks.
However, there was no other way. If he didn't sell and didn't return the clients' money, he would have to go to jail.
"Sell it," Old Master Chen said listlessly.
After uttering these words, he felt as if he had aged twenty years.
The old butler immediately placed the order, and it was executed in an instant.
"Master, a total of twelve billion has been recovered, but it's not enough," the old butler said.
"Sell Southern Steel and Western Steel; we must raise twenty billion," Old Master Chen said.
"Okay," the old butler nodded and immediately sold these two stocks.
Unexpectedly, when he sold Southern Steel Company, he encountered the same scenario as before.
"What's going on?" Old Master Chen was puzzled, then his face suddenly changed, "Xu Yang has shares in Southern Steel Company, too!"
"It appears so," the old butler said bitterly.
"Buy, no matter what, we must recover twenty billion in funds," Old Master Chen said through clenched teeth.
"Okay," the old butler operated.
After selling Southern Steel Company, five billion was recovered.
When operating the sale of Western Steel Company, a similar situation occurred; after selling, three billion was recovered.
After selling the three stocks, twenty billion was finally recovered.
"Return the money!" Old Master Chen immediately said.
Only by returning the money could he feel at ease.
"Yes," the old butler immediately transferred the money to the client funds account.
Only then did Old Master Chen breathe a sigh of relief.
Although he had avoided the scrutiny of the Financial Management Bureau, he was essentially bankrupt.
Only two hundred thousand yuan remained in the account.
Two hundred thousand, for ordinary people, is a considerable sum of money.
But for someone like Old Master Chen, who had once possessed a vast fortune, it was practically beggarly.
No one could have imagined that Xu Yang would bankrupt Old Master Chen in such a short time.
Everyone looked at each other, not knowing what to say.
Old Master Chen lay on his Taishi Chair, utterly spent in spirit.
After a long while, he glanced at everyone and slowly said, "I've lost, completely lost. Leave me."