A monthly pension of 10,000 yuan for the elderly living alone, leveraged more than 30 million yuan in stocks, and the stock market burst!I owe tens of millions to brokerages

Recently, a case of stock speculation caused heated discussions among netizens.

According to the “Daily Economic News” report,A 69-year-old woman in Guangzhou added leverage to invest in stocks. CITIC Jiantou Securities granted a credit line of 66 million yuan for two financing. After falling below the liquidation line, the old man was powerless. After the liquidation, more than 10 million yuan has not been paid off by CITIC Jiantou Securities.

According to reports, the old man involved is named Su Yufu, who was born in 1953, lives alone, has no children, and has a monthly pension of 10,010 yuan. On March 22, 2017, she signed the “Margin and Securities Lending Business Contract” with CITIC Construction Investment, which provided her with a total credit line of 66 million yuan.

According to the agreement between the two parties, when the maintenance guarantee ratio of Su Yufu’s account is lower than 130% of the insurance recovery line and above the minimum line of 110%, the account will enter the recovery state, and the collateral should be added within T+1 day, otherwise, CITIC Construction Investment The right to start the forced liquidation procedure on T+2 day.

If the guarantee ratio is maintained below the minimum line of 110%, CSC has the right to immediately initiate the forced liquidation procedure.

As of February 1, 2018, Su Yufu had used a financing amount of 33.355 million yuan, but the maintenance guarantee ratio of his account dropped to 128% that day.CITIC Construction Investment notified Su Yufu twice on February 1 and February 2, requiring the transfer of collateral or the repayment of margin financing and securities lending liabilities to ensure that the guarantee ratio is maintained above 145%.

However, until February 5 of that year, Su Yufu was unable to add collateral or repay the debt, and the ratio of maintaining the guarantee finally fell below 110%. CITIC Construction Investment immediately forced the liquidation of the stocks in Su Yufu’s credit account. After the liquidation, Su Yufu partially The margin financing and securities lending debts have not been repaid.

According to the award made by the Beijing Arbitration Commission on May 31, 2019,Su Yufu still needs to repay the financing principal of 10.264 million yuan and overdue interest of 350,000 yuan to CITIC Construction Investment.

Since then, CSC has applied for compulsory execution, but disputes between the two parties have continued.

The elderly Su Yufu claimed to be suffering from cancer, living on pensions, and was involved in property transfer, but the act was revoked by the Guangdong High Court.

According to the judgment, Su Yufu owns a property with an area of ​​55.6 square meters in Yuexiu District, Guangzhou. In early February 2018, the property was transferred to her sister Su Yingli at a total price of 1.414 million yuan, with a unit price of 25,412.68 yuan/㎡, and the transfer was completed on February 7.

However, CITIC Construction Investment believes that the real estate belongs to the school district and the location is superior. The minimum online listing price of the community where the house involved in the case is located in 2018 is 50,000 yuan/m2, which is an obviously unreasonable low price according to law.

Su Yingli and Su Yufu are close relatives and know that Su Yufu has a huge debt to CITIC Construction Investment, and she should know the purpose and reason for Su Yufu’s transfer of the property at an obviously unreasonable low price. Su Yingli is actually assisting Su Yufu to transfer property.

In the end, the Guangdong High Court upheld the first-instance judgment, revoke Su Yufu’s transfer of the property in his name to the defendant Su Yingli, and restored the registration of the property to Su Yufu’s name.

After the court froze his bank deposits, Su Yufu applied to the court for reconsideration. The property in his name was only a monthly pension of 10,010 yuan, and he had been diagnosed with malignant tumors. He was 66 years old and had no job and no income. source, and rely on pensions to maintain basic living.

In this regard, the applicant for enforcement argued that the funds in the account frozen by the court did not belong to the “essential living expenses” of Su Yufu, the person subject to enforcement.

The property is worth at least $2.5 million,At the same time, the minimum living allowance in Guangzhou is 1,010 yuan per person per month, and his pension far exceeds this standard. As for his claim to be sick, medical records show that his disease has been cured in 2018, and his life is relatively good. The court finally rejected Su Yufu’s application for reconsideration.

However, there is no other property in Su Yufu’s name that can be enforced. If the debt is paid off with pensions and real estate, CITIC Construction Investment will still face more losses.

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Responsible editor: Ruofeng