Original title: The huge loss exceeds 30% and still have to compensate for the loss?The fund manager said he was “forced” to sign a compensation agreement, but the first-instance judgment said so
Source: Securities Star
Investment is risky, and you need to be cautious when entering the market. This is the most familiar sentence in the capital market, but a civil judgment published by the Judgment Document Network recently revealed that an investor received nearly 180,000 yuan in compensation after losing more than 30%. What is going on?
The verdict shows that a private equity investor, Ms. Wang, willZhongtai SecuritiesYantai branch, Zhongtai Securities, Blue Ocean Strategy Capital, and Su Si notice went to court. The fund involved in the case was the “Blue Ocean Stable Growth Fund I”, which was sold by Zhongtai Securities on a commission basis, with Beijing Blue Ocean Taoluo Capital Operation Center (hereinafter referred to as Blue Ocean Center) as the manager and Su Sitong as the fund manager.
Regarding the ins and outs, data shows that in 2016, Ms. Wang opened an account in the sales department of Zhongtai Securities Yantai South Street to subscribe for funds. On the 13th of that month, Ms. Wang subscribed for the first phase of the Blue Ocean Stable Fund through the account, with an entrusted amount of 2 million yuan. On the 30th of that month, Ms. Wang successfully subscribed to the above fund with a subscription amount of 2 million yuan. It is worth noting that the fund has an early warning line of 0.80 yuan and a stop loss line of 0.70 yuan in the contract. On November 29, 2017, Ms. Wang redeemed the above funds, the balance of which was 1.32 million yuan, and the loss rate was 33.97%.
In December 2017, Su Sitong issued a letter of commitment to Ms. Wang, stating that the investment in the Blue Ocean Stable Growth Phase 1 private equity fund product of the Blue Ocean Center has an amount of 2 million yuan. Due to losses caused by investment failure, the committed liquidation amount is less than 1.5 million yuan, a one-off Compensation to 1.5 million yuan; Su Sitong was unconditionally redeemed before September 1, 2018.
However, Su Sitong failed to fulfill his promise and compensated Ms. Wang for the loss.
As a result, Ms. Wang took the above parties to court together and changed the litigation request to: 1. Request Zhongtai Yantai Branch, Zhongtai Securities and Blue Ocean Taoluo Capital to compensate 79,400 yuan for economic losses and since September 1, 2018 The interest calculated based on the loan interest rate of the People’s Bank of China over the same period; 2. Request Su Sitong to compensate 179,400 yuan for economic losses.
Regarding the letter of undertaking, Su Sitong stated in his defense to the court that at the end of 2017, the Blue Ocean Stable Growth Phase I Private Equity Fund Agency led some investors to Su Sitong’s office address in Shanghai and required Su Sitong to bear the responsibility for losses. In the case of being coerced, sign the letter of commitment provided by investors, etc. The market risk is beyond human control, and investors such as the plaintiff cannot blame Su Sitong for the loss.
The fund manager was “coerced” to sign? Netizens called “good guys.”
However, the court held that the facts of Ms. Wang’s loss were clear, and there was sufficient evidence that Su Sitong did not follow the promise to pay the plaintiff. Su Sitong stated that the above-mentioned undertaking was a defense issued under the coercion of the plaintiff and others without supporting evidence, and the plaintiff refused to accept this. This court would not accept this, and Su Sitong shall bear the responsibility to the plaintiff in accordance with his promise. The plaintiff’s claim that Su Sitong should compensate his economic loss of 179,400 yuan is consistent with the agreement and has a legal basis, and this court supports it.
At the same time, the court found that the plaintiff had no evidence to prove that Zhongtai Securities, its Yantai branch, and Blue Ocean Company were at fault in the fund operation, or breached the contract or violated regulations, and rejected the plaintiff’s other claims.
In the end, the court decided:
1. Defendant Su Sitong shall pay the plaintiff Ms. Wang’s loss of RMB 179,400 through this court within 10 days from the effective date of this judgment;
2. The plaintiff Ms. Wang’s claims against the defendants Zhongtai Securities Co., Ltd. Yantai Branch, Zhongtai Securities Co., Ltd., and Beijing Lanhai Taolue Capital Operation Center were rejected.
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Editor in charge: Zhang Shuyuan
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