"It looks like picking up endless amounts of gold on the ground, doesn't it?" Miyagawa smiled helplessly, "Those large copper trading companies are just like crazy, rushing around to acquire small ones.

The copper company’s accounts receivable. At that time, the factoring business department of my father’s law firm was almost crazy.”

"Such a business model, don't you think it's impeccable?" Miyagawa said, "At its craziest time, large copper trading companies even gave up their main business and became like underground banks, specializing in snooping around small copper companies.

financing sought.”

Kitahara knew it very well.

There can be no free lunch in the world.

A free lunch must be the most expensive.

If according to what Miyagawa said, at the craziest moment, large copper trading companies can no longer even engage in their main business, then this craziest moment is often the end of the show.

With Kithara's keen eyesight, he immediately discerned the flaws of this arbitrage model.

"If someone else is willing to sell you a 100-yuan account receivable at a low price of 50 yuan, then most likely, the possibility of recovering the 100-yuan account receivable is unlikely, and it is probably already a non-performing asset.

"

Miyagawa could not help but secretly admire Kitahara even more when he heard that he had discovered the key to the problem so quickly. This was because his father and nearly a hundred lawyers in the firm later researched and discovered this problem.

"Yes, Kitahara. That's the problem."

The beautiful lawyer's voice continued, "Because those copper companies with good credit are making money too quickly by reselling accounts receivable, and the demand for the bank's factoring business has greatly increased. So the bank in turn demanded

These copper companies provide counter guarantees. That is to say, if these accounts receivable cannot be collected in the end, then the bank will hold these copper companies with good credit accountable."

"These large copper trading companies were blinded by the quick profits at the beginning. They thought that even if they occasionally assumed guarantee responsibilities for these accounts receivable, the amount of losses would be far less than the huge profits. Even if the reverse was true,

Providing guarantees to banks is also a profitable business."

"So, this is the first step to collapse." Kitahara said.

Miyagawa nodded, "Later on, some companies gradually began to discover that something was wrong. The bad debt rate of the accounts receivable they acquired began to soar sharply. The guarantee obligations borne by the banks gradually began to exceed the profits from reselling the accounts receivable."

“It wasn’t until later that something happened,” Miyagawa said. “My father’s law firm had a client come to our door. This client was a large copper trading company in Tokyo Bay. It also acquired many small-scale copper trading companies.

The copper company's accounts receivable were resold to the bank. As a result, the customer was required by the bank to assume guarantee liability due to large-scale bad debts in the accounts receivable."

"The client felt something was wrong. Because they and our law firm had investigated these small copper companies in advance, and only after meeting the requirements would they acquire their accounts receivable. Why did the bad debt rate suddenly rise so much?

So fast?"

"So, my father and some team lawyers immediately investigated this. Later, we discovered a terrible fact."

"What facts?" Beiyuan asked immediately.

"That is, many acquired accounts receivable are actually fake," Miyagawa said.

With just one sentence, the situation once again caused waves.

"Fake? Didn't your father, lawyer Imanishi and others discover it during the due diligence investigation?" Kitahara had also fought with Imanishi in court after all. He believed that Miyagawa's father was definitely a scheming figure. It would never be that simple.

Falling into the trap. There is no way this old fox could fall into such a simple trap.

Miyagawa shook his head, "Kitahara, you can't even imagine that all the materials about these accounts receivable are fake. Including these small copper companies, they import copper from abroad. Those foreign companies are pretending to be

, or directly register a foreskin company abroad."

"The customs approval documents for copper imports are also fake. They even built a fake customs approval website for verification."

"Their office was also fake. In fact, it was rented out through several hands. They forged the lease contract for the office. When we actually tracked down the landlord, the landlord had no idea that his office had been subleased to these companies."

"The sales contracts they resold to domestic copper producers are also fake."

"They also faked the copper production company, or registered a fake company."

"The deposit payment records of those copper sales contracts are also fake."

"After the deposit was transferred, it was actually taken away."

"In short, all of this is false. My father and the lawyers in the law firm could not have imagined that all the materials before them would be false!" Miyagawa said with some despair.

Beihara had to gasp after hearing this. He dared to form a chain of fraud to deceive savvy lawyers. These scammers took advantage of the lawyers' blind confidence in their profession, so that the lawyers were also fooled.

The operator behind this must have such courage.

"And, Beiyuan, did you know that at that time, the factoring business in the copper trade was too hot. A lot of factoring business may not be completed by one law firm, so law firms would contract with each other to contract some

Business. Some due diligence investigations on copper trading companies, or witnessing business on copper materials, will be assigned to some law firms that are not too busy. In this way, everyone will cooperate with each other."

"However, we did not expect that the witness documents provided by some law firms would be false."

"My father and I were also looking through the documents together to find out how many documents provided to us by other law firms were fake. We were constantly checking. As a result, I found dozens of documents that appeared to be lawyer testimony, but were actually fake.

Copper warehouse receipt." Miyagawa said.

This chapter is not finished yet, please click on the next page to continue reading the exciting content! Copper warehouse receipt?! Beiyuan couldn't help but sit up slightly, and a bad guess immediately appeared in his mind: "Could it be..."

"Yes, Kitahara, you guessed it right. Eto Law Firm once helped us testify to the authenticity of the copper warehouse receipt," Miyagawa said.

The moment Miyagawa said it.

The world seems to be silent.

It is difficult to describe in words the shock of hearing this news.

Even Kitahara had to be stunned. He really never thought that the copper warehouse receipt incident would actually involve the Miyagawa family's law firm. Moreover, Eto Law Firm was also involved.

"The current situation is that a large number of copper trading companies that have been claimed by banks are already preparing to sue Imanishi Law Firm. They blame our due diligence for failing to detect these false accounts. The estimated amount of prosecution is very huge.

.Currently, the partners’ meeting is urgently discussing how to deal with it.”

Unexpectedly, the copper warehouse receipt pledge incident has spread to Miyagawa.

Destiny likes to play tricks.

When Kitahara wanted to push the girl in front of him out of the terrifying whirlpool, in fact, the two of them were already in the same terrifying abyss.

"The store is closing," the clerk next to me reminded.

Kitahara woke up from a dream. He and Miyagawa had been sitting in this fast food restaurant until almost late at night.

The two walked out of the station, and the atmosphere was unprecedentedly solemn.

If this is the case, Miyagawa will also be involved in this incident.

For some reason, the usually bustling streets were silent at this moment, and it was hard to find anyone.

The night was eerily quiet.
Chapter completed!