3月18日晚间,有朋友说:这可能是前无古人,后无来者。
他说的是恒大财务造假这件事。
根据恒大地产公告,证监会调查认定,2019年恒大地产虚增收入2139.89亿元,虚增利润407.22亿元;2020年恒大地产虚增收入3501.57亿元,虚增利润512.89亿元。
两年间,恒大合计虚增收入5641亿,虚增利润920亿。
老实说,攸克君看到这个消息,并不感到意外。早在去年7月17日晚间,恒大公告就透露,因其自身“会计处理变更”导致以前年度收入调减高达6643亿元。我们在7月18日就发出文章《财务作假,令人发指!》,直接指出恒大财务造假6643亿。证监会的调查确认了这一造假事实,只是数据有所差异而已。
财务造假是资本市场的一颗毒瘤,这种现象很多经济体都存在,只是程度不同。造假5641亿,目前可以说是“前无古人”,但
是不是“后无来者”,真的很难讲。
提醒善良的人类,不要低估赌徒的疯狂。
18日恒大公告出来,第一时间跳到攸克君脑海里的,是
美国安然公司造假事件。
1985年,肯尼斯•莱在休斯敦将两家公司合并成立了安然集团。1991年,他整合电力、天然气、自来水等资源,业务扩展到了海外。1992年,仅是天然气项目,每月就为安然集团带来超过1.8亿美元的收入。
2000年,安然公司的市值达到83.13亿美元,股价也是一路飚升。2001年,《财富》杂志公布的“世界500强”企业,安然位列第16名。
《财富》杂志还将安然公司誉为“最能代表美国精神的公司”。
天下事,无新鲜。肯尼斯大肆扩张,进军娱乐和宽带业务,但迅速陷入亏损。惊奇的是,
安然的现金流不断萎缩,利润却持续增长。这一幕何其相似。
在媒体和投资人的追击下,2001年10月16日,安然三季度财报自我引爆,宣布公司亏损6.18亿美元。股价一泻千里,
从2011年8月的90美元,跌到2002年1月的0.11美元。
2006年1月,安然集团高管被送上审判台。法院认定的事实是,该公司
虚增利润6亿美元,并隐瞒24亿美元的到期债务。涉及到的金额高达600亿美元。
结果是:安然公司罚款5亿美元,CEO杰弗里·斯基林判刑24年罚款4500万美元,创始人肯尼斯虽然在羁押期间去世,但仍被罚款1200万美元
(若活着,他最多可判185年)。
涉案的华尔街几家顶级投行,均被判有罪,花旗集团、摩根大通、美洲银行分别向受害者支付赔偿金20亿、22亿和6900万美元,安然股票的投资者累计获赔71.4亿美元。
安然破产,差点把整个华尔街拖到地沟里。
当年全球会计师事务所,不是现在的“四大”,而是“五大”,排名第五的叫做安达信。而
安然的会计师事务所就是安达信。
安达信没少从安然这里拿钱。比如,2001年,安然向安达信支付的费用达5200万美元,其中2500万美元是审计费用,2700万美元是顾问费用。
报应很快到来。2002年6月15日,联邦地区法院判决安达信妨碍司法罪名成立,判处罚金50万美元,五年内不得从事会计业务。
安达信就此倒闭。
“五大”变“四大”。
2023年1月16日之前,恒大地产的会计师事务所是普华永道,
“四大”之一。而在2019年、2020年的恒大地产审计报告里,
普华永道出具的是“无保留意见”。
恒大地产财务造假案,
“手段特别恶劣、情节特别严重”,公司被罚41.75亿元,许家印被罚4700万元(只及许氏家族分红卷走海外的几百亿的千分之一),夏海钧被罚1500万元(只及他某一年薪酬的约十分之一)。
这当然不够。许家印已经被刑事拘留,
等待他的必将是法律的严厉审判。
那普华永道呢?有专家说,如果投资者发起诉讼,该公司罪责难逃;我们相信,主管部门也会对它作出相应的行政处罚。
证监会上市公司监管司司长郭瑞明3月15日在国新办新闻发布会上表示,
财务造假触碰的是资本市场的底线,必须坚决打击。
“刑事方面,要用好公安、检察机关派驻证监会的体制优势,联合查处一批典型恶性案件。民事方面,先行赔付、支持诉讼、行政执法当事人承诺等制度可以赔偿投资者损失,大幅提高违法成本,将推出更多案例落地”。
“对于丧失职业操守、串通舞弊的中介机构,坚决从重处罚,坚决适用禁业罚等硬措施”。
中国恒大是港股公司,但它的运营主体是在内地,主管部门有权处罚。
恒大地产这种丧心病狂的财务造假行为,链条上的责任人和机构,一个也跑不了。
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