13 – Downfall
Taewoong Life Gangnam Tower, Chairman Kim Young-hoon’s office.
Talleung.
Chairman Kim Young-hoon raised his head at the sound of a phone call breaking the silence.
Click-
He picked up the receiver.
“This is Kim Young-hoon of Taewoong Group.”
-Ah, Grandpa. This is Sungwoo Kim.
It’s rattled.
He couldn’t come to his senses at the first phone call from his grandson.
I just held my breath and waited for the grandson’s next words.
-I asked a big question, would you like to hear it?
“The big one? What are you talking about?”
-Do you know about the charity auction held in the Five Seasons Grand Party Room today?
Everyone knows.
Isn’t it a common place for tax evasion and money laundering organized around Seoul Mayor Kang Min-wook?
But what do you get out of those minnows?
Chairman Kim Young-hoon tilted his head.
“I know. But is there a chance that something big will come out of it?”
-Yes, there was one guy who was very cunning. I think the explanation will take some time, is that okay?
Although it is unreasonable to call it a harmonious conversation between grandchildren and grandchildren, this time was just precious to Chairman Kim Young-hun.
Above all, the grandson asked for a big question for himself.
Chairman Kim Young-hoon’s eyes flashed.
“You have enough time.”
****
“Heh heh, so what you mean is that if you knock down that guy named Do-hyung Jang, he will collapse like a domino on his own, right?”
– Exactly.
Unilabs.
It is the same company as the mother body of Solar, which issues a virtual currency called ‘Solar’, which is popular these days.
According to the grandson’s words… A man named Jang Do-hyung must bring down Unilabs before the large-scale Ponzi scheme he is ambitiously planning explodes. That way, it is said that all the officials, starting with Mayor Kang Min-wook, who are related to him will naturally collapse together….
“But there is no justification. For Tae-woong to step forward, there must be a corresponding price.”
If Taewoong moves directly, there are not only a couple of problems that become entangled.
Of course, there is no reason for Tae-woong to be frightened as he only swallows minnows. In order to move the giant named Tae-woong, he must be given corresponding loot.
-No, if it’s a cause, the garage will overflow.
And the clever grandson would know all of that.
Chairman Younghoon Kim parted his lips in a voice filled with anticipation.
“Where… Let’s hear about the board you made.”
– Unilabs’ financial situation is no different from a ticking time bomb. It looks healthy on the outside, but it’s been a joke on the financial statement.
“What?”
– Cookie Jar Accounting. We also caught several circumstances that seemed to be profit manipulation.
“Huh… !”
What is Cookie Jar Accounting?
This refers to an accounting technique in which part of the profits are reserved for years with excessively good performance and then used for profits that are reserved for years with poor performance.
It’s literally like putting cookies in a cookie jar and taking them out when you’re hungry.
There is even Earnings Manipulation.
It is said that he deliberately inflated his financial position.
“… Will the evidence be clear?”
-We will organize the collected evidence into separate documents and send them to you. Grandpa’s role is simple.
“Recite it.”
-First, you can use the evidence I provided through Taewoong Investment & Securities to write a report proposing investment retention in Unilabs. It would be better if you candidly criticize the uncertain prospects and investment risks of the cryptocurrency called ‘Solar’. After that, if you use the media to draw attention to the wide area, that’s where it starts.
“Heh heh, did you sell short after that?”
-Yes, I will shoot the first flare. If you sell the entire 10% of your stake in time, both you and I will throw a panic cell. The long squeeze caused by large-scale selling will lead to a downtrend for a while.
“I won’t just sit still on that side.”
Short selling.
This is an investment strategy that borrows stocks that do not exist and sells them at the market price, then buys the stocks again at the lowered stock price and returns the borrowed stocks to make a profit.
In other words, it refers to a method of betting on a stock price going down and earning a profit as much as the stock price goes down. In other words, it is also called short position.
Of course, the victim won’t sit still either. Even if you get a loan, you will try to defend the stock price by buying stocks.
-From then on, it was a war. Whoever has more money wins.
Sir.
An unbearable laugh broke out.
“In Korea, there is no guy with more money than Taewoong.”
-I understand that you accepted. Enough then.
I shuddered with trembling.
****
I don’t have a sense of justice, nor do I have any intention of distinguishing between good and evil with my petty discretion.
Then why did I go this far?
‘You unlucky bastard.’
The idea of using me as a chess piece for a board you’ve created is absolutely disgusting.
Above all, I couldn’t keep my eyes open as long as I learned about the vicious financial terrorism operation.
If a long-distance bomb explodes while fully equipped with explosive power, the aftermath of the damage becomes uncontrollable.
Although I got involved with Chairman Kim Young-hoon again, I have no complaints as it has been a satisfactory transaction for both of us.
I’ve said it many times, but I hate getting involved in troublesome things.
I have no intention of starting a business or investing. I just want to spend the rest of my life and escort you.
However, he is not cold-blooded enough to ignore the bloody tears that tens of thousands of people will shed.
At least now that lies have become reality, I have definitely decided to live without caring about others.
[Title]
“Serious accounting manipulation and false advertisements close to fraud and illegal investment contracts”… Taewoong Investment & Securities
[Text]
Taewoong Investment & Securities, Korea’s No. 1 Investment research company, recently announced a negative report on the earnings prospects of a company called Unilabs, and is proposing investment reservations to investors.
According to the report, the Unilabs company recently suffered a sharp drop in performance, and its financial condition was also very unstable. In addition, as the allegation that Unilabs is committing illegal acts in accounting has been raised with clear evidence, there is a continuing analysis that the risk of investment is increasing.
…
…
…
For this reason, Taewoong Investment & Securities is taking the stance of recommending investors to reserve investment.
[Comments] (+792)
-You crazy bastards
-Aren’t the bastards you invested in the first place idiots?
No, it’s a skill problem.
Don’t say it lightly. It’s the people who make false advertisements and even illegal contracts that’s the problem. Is it the investors’ fault?
Yes, if you made an investment, you should take responsibility yourself, right? Lol
-Taewoong Investment & Securities is out of luck.
From noble mtl dot com
Taewoong saved several people
Yes, I’m selling everything I’m holding right now.
-Isn’t this also what you wear to rob ants?
ㅋㅋㅋㅋㅋ It’s not illegal and even the evidence is gone, but I’m going to kick the ants.
Yes~ You should hold it for the rest of your life, you asshole hahahaha
B I have to break my head to come to my senses hahahahaha
– A typical Ponzi scheme. If it exploded later, there would have been a really big accident ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
ㄴ I’m not going to laugh it off, it’s f*cking serious.
ㄴ If you see something like this still intact, it must be messy and entangled hahahahaha
It seems that Chairman Kim Young-hoon started to wield his sword in earnest.
At 9:00 a.M., Stock prices of Unilabs are starting to drop spectacularly to minus in line with the start of the market.
Sorry, but I haven’t even started yet.
Now is the best time to fire the first flare.
Ssiik-
Have a taste of 15 billion nuclear warheads.
****
-Hey Jang Do-hyung you bastard!! How the hell do you handle things like this!!!!
I frowned at the roaring sound that erupted over my cell phone.
“Please block the press while talking on the phone. I’m sorry, but I’m sure you won’t know that it doesn’t end just because I die.”
He muttered in a cold voice.
-… Call me later.
Push-
He fell helplessly onto the chair.
f*ck… Where did you go wrong?
Taewoong Investment & Securities Why are these bastards suddenly stepping out and brandishing knives?
Above all, it even picked up on the circumstances of accounting manipulation that could never be grasped with only financial statements.
Surely, they would have spent a huge amount of money to set up an accounting team and perfected it.
I clutched my forehead at the oncoming headache and groaned.
“Not yet… I can still fix it.”
From now on, I will take care of the media, buy time while conducting investigations… I just need to finish my preparations during that time.
Although we may have to move up the existing schedule, we are not in a position to take a risk now.
More than anything else, Kim Sung-woo remains with us. He must have the wisdom to get through this situation.
Yes, it is still too early to give up.
“Uh…?”
The stock price, which had been flat at -7%, began to plummet.
[Sell 100,000 shares signed!]
[Sell 100,000 shares signed!]
[Sell 100,000 shares signed!]
…
Sell orders for 100,000 shares starting to pile up. Thanks to the plummeting stock price, everyone throws a panic cell.
To make matters worse, even the short-selling forces clung to it.
I tried to defend the stock with all means, but it was useless.
In an instant, the stock price of Unilabs began to plunge vertically and hit the lower limit.
“Ha… Ha ha ha… Big… !”
Going mad from the unbearable shock, he lost his hand and dropped the mobile phone.
Who are you? Who even dragged Taewoong Group…
“No way… “
Suddenly, the face of the guy who laughed at me at the auction event and shed a sneer passed by.
Sung-Woo Kim, are you saying that he designed all these schemes?
A large amount of stock was brought through an auction. Using Taewoong Investment & Securities to turn off aggro. It sold all of its shares at the right timing. Even large-scale short selling forces that quickly clung to each other as if they had been squeezed.
hahahaha… Under… ha ha… !
“… Monstrous bastard”