The richest man started taking advantage of loopholes after joining Alibaba.

Hangzhou, headquarters of Weiguang Media.

The air purifier in the basement was running at full speed, trying to suck away the suffocating, acrid smell.

Lin Che sat at the desk piled high with documents.

The ashtray beside him was already full of cigarette butts.

But he didn't smoke.

He was looking at his watch.

Thirty minutes had passed since Edward made that warning call.

This means that he has 47.5 hours left.

"Brother Che, the car is ready."

Zhao Sihai pushed open the door and came in, his voice low, "Where to? The airport?"

He thought Lin Che was going to run away.

After all, related-party transactions involving billions of yuan are enough to warrant several executions.

"run?"

Lin Che raised his head, his eyes as calm as a stagnant pool.

"Where do you want to run?"

"The US has the SEC, and China has the Economic Crime Investigation Department. Once the charges are proven, there will be no place for me on Earth."

He stood up and walked to the safe he considered top secret.

enter password.

"drop."

The cabinet door popped open.

There were no gold bars or cash inside.

There was only a stack of blank A4 papers with Alibaba's legal department watermark.

These are "strategic materials" that he secretly left behind six months ago by taking advantage of his position.

"Four seas, guard the gates."

Lin Che took out the stack of papers and placed them on the table.

"From now on, no one is allowed to come in. Even if it were the King of Heaven himself, he would have to wait outside."

"yes!"

Although Zhao Sihai didn't understand, he saw the determination in Lin Che's eyes. He went out and locked the heavy security door.

Lin Che was the only one left in the secret room.

He took out his anonymous mobile phone and dialed a Hong Kong number.

That's Central, Asia's premier legal services center, and a haven for money launderers.

"Wong".

Lin Che spoke into the phone.

Attorney Huang, formerly a senior partner at Clifford Chance, is now Lin Che's private legal counsel overseas.

A legal rogue who would even change God's will if he was paid enough.

"Mr. Lin, so late?"

Wong's languid voice came from the other end of the phone, accompanied by jazz music and the crisp sound of ice cubes hitting a glass.

"I want to build a VIE architecture."

Lin Che's voice was cold, like a scalpel.

The main entity is "Weiguang Group". The controlling party is "Alibaba".

"The agreement includes: an exclusive purchase right agreement, a voting rights delegation agreement, and a share pledge agreement—the complete set."

"Shall we do it now?"

Wong paused for a moment, "This requires due diligence, which will take at least a month..."

"No."

Lin Che interrupted him.

"No due diligence is required."

"Because this agreement was signed six months ago."

There was silence on the other end of the phone.

The jazz music seemed to have become quieter.

Wong was a smart man, and he instantly understood what Lin Che meant.

Backdating.

This is a serious case of legal fraud.

But in the business world, this is the most advanced remedy.

"Mr. Lin, this is very risky."

Wong's voice turned serious, "If the audit finds that the carbon-14 year on the paper is incorrect..."

"Nobody will check carbon-14."

Lin Che looked at the stack of white papers on the table that bore the Ali watermark.

"Because this agreement is 'top secret'."

"I've already come up with a reason."

Lin Che took a deep breath and began to weave the lie that would soon deceive the whole world.

"Wong, do you know how many shares SoftBank holds in Alibaba?"

34%.

"As the largest shareholder, Masayoshi Son has always coveted Alibaba's control. In order to maintain control, Jack Ma must set up a firewall outside the company."

"Weiguang Group is this firewall."

Lin Che's speech became faster and faster, but his logic became clearer and clearer.

"We are not embezzling; we are helping management build a shadow empire that is not controlled by SoftBank."

"The social data of WePintuan and the physical logistics links of WeLight Logistics, these core assets, cannot be included in the financial statements of listed companies, otherwise SoftBank will be able to infiltrate them through the board of directors."

"Therefore, we must use the VIE agreement for covert control."

Perfect logic.

An impeccable story.

It exploited the well-known conflict between Jack Ma and Masayoshi Son, packaging Lin Che's "selfish motives" as Alibaba's "public good."

They whitewashed "embezzlement" into "strategic defense."

Wong gasped for breath on the other end of the phone.

"Brilliant... Absolutely brilliant."

Wong exclaimed in sincere admiration, "Mr. Lin, if this story can be reconciled, then you will not only be innocent, but also a hero of Ali."

"Stop talking nonsense."

Lin Che glanced at the time.

"Draft it immediately. Send it to my encrypted email address in half an hour."

"Remember, all dates must go back to September of last year. That is, the day I took over the wireless business unit."

"Understood. Twenty million Hong Kong dollars, no bargaining."

"make a deal."

......

Half an hour later.

An encrypted email has arrived.

Lin Che opened the document.

It was a legal document that ran for a hundred pages. Every clause and every word had been meticulously crafted by top lawyers, leaving no room for error.

Exclusive Option Agreement

Date of signing: October 9, 2013

Lin Che connected to the old HP laser printer.

"Sizzle—sizzle—"

The printer started working.

One by one, warm sheets of paper were expelled.

Lin Che picked up his pen.

That was a special pen he had prepared, the kind with ink that evaporates easily and looks like an old, worn-out mark.

He signed his name in the "Party A (Alibaba's agent)" section.

In the section for Party B (Weiguang Group), he signed Wang Pangzi's name.

Then comes the stamping.

Six months ago, when he tricked Lao Xiao into signing the "incubation agreement," he secretly left an imprint of the wireless business department's official seal by taking advantage of his position.

At this moment, the fake seal, 3D printed with photosensitive resin, came in handy.

"Smack."

The bright red inkpad was stamped on the paper.

The force penetrates the paper.

After doing all this.

Lin Che threw the hundred-page document on the ground.

He was wearing leather shoes and stomped on it hard a few times.

Then, he picked up the half-cup of overnight tea on the table, dipped his finger in it, and gently flicked it onto the edge of the document.

Finally, he placed the stack of documents next to the heat vents of the server that was overheating.

High temperature, dust, and stains.

In just ten minutes.

This newly created "false evidence" has become a "top secret file" full of the marks of time.

It looked as if it had been quietly sleeping in the corner of a safe for half a year.

Lin Che picked up the document.

He looked at the slightly yellowed papers and the bright red seal.

The suffocating tension disappeared.

Instead, there is a thrill of being in control of everything.

"Black."

Lin Che said softly.

"It turned white."

......

After 40 hours.

Washington, D.C., United States.

SEC headquarters.

An urgent registered letter was sent from here.

Recipient: CFO of Alibaba Group.

Content: Form 166 (Document Retrieval Ticket)

Although the whistleblower was anonymous, the SEC decided to launch an "informal investigation" due to the detailed nature of the whistleblower's materials.

This is a routine risk assessment before the IPO.

But for Alibaba, this is a ticking time bomb.

......

Hangzhou, Alibaba Binjiang Campus.

The office of CFO Joseph Tsai.

Joseph Tsai is preparing to hold his final pre-IPO mobilization meeting.

The secretary walked in, pale-faced, holding a newly printed fax.

"Joe... SEC subpoena."

"Someone reported that Weiguang Group is Lin Che's private property and is suspected of major related-party transactions."

Tsai Chung-hsin's hand trembled.

The coffee cup in my hand slammed onto the table with a "clatter".

His worst fears came true.

At this critical juncture, the SEC's investigation is nothing short of a death sentence.

"Call him Lin Che! Right now!"

Joseph Tsai practically roared, "And Mr. Ma! Activate Level 1 crisis response immediately!"

......

Ten minutes later.

Lakeside Garden.

This place has once again become the eye of the storm.

Mr. Ma sat on the sofa, his face terribly gloomy.

Li Mo stood in the corner, head down, seemingly ashamed, but a barely perceptible sneer lingered on his lips.

He is waiting.

Lin Che was captured on the spot.

When that so-called "genius" becomes a prisoner.

"Has Lin Che arrived yet?" Boss Ma asked.

"arrive."

The door was pushed open.

Lin Che walked in.

He carried the old briefcase in his hand, but his expression was surprisingly calm.

There was no fear, no panic.

It even carried a hint of... anger at being wronged.

"Mr. Ma, Mr. Cai."

Lin Che placed his briefcase heavily on the coffee table.

"I heard someone reported me?"

"Are you saying I'm poaching employees from the company?"

Joseph Tsai slammed the SEC subpoena on the table.

"Lin Che, the evidence is irrefutable! The cash flow of Weiguang Logistics and the equity of Weipintuan are all under the name of your pseudonym, Wang Defa! What other explanation do you have?"

"Do you know that because of your greed, Alibaba's IPO might be delayed by six months!"

Li Mo raised his head, his eyes filled with pleasure.

at last.

The mask was torn off.

"greedy?"

Lin Che sneered.

He opened his briefcase and took out the stack of documents that had been "aged".

That stack of A4 paper, exuding an old smell and even bearing a few tea stains.

"President Cai."

Lin Che's voice was strong and resonant, echoing in the living room.

"You're the CFO, you should be able to understand what this means."

He slammed the documents in front of Joseph Tsai.

"Snapped!"

The papers scattered.

Exclusive Option Agreement

Date of signing: October 9, 2013

Joseph Tsai was stunned.

He picked up the document and quickly flipped through it.

The more he looked, the tighter his pupils contracted.

This is a standard VIE control protocol.

The terms are well-structured and the logic is clear.

Most importantly, the signing date was six months ago.

This means that from the very first day of its inception, Weipintuan has been legally a "shadow subsidiary" of Alibaba.

Lin Che did not embezzle the money.

He was just acting as a proxy.

"What...what is this?" Tsai Chung-hsin's voice trembled.

"This is strategic defense."

Lin Che turned his head and looked at President Ma.

"Mr. Ma, I reported this to you six months ago."

"SoftBank has overreached."

"If we want to do social networking, logistics, or those dirty and tiring jobs, we can't do them through Alibaba's main body, because that would be hampered by the board of directors and subject to Masayoshi Son's interference."

"so."

Lin Che pointed to the document.

"I took it upon myself to create this shadow architecture."

"It's nominally mine, but in reality, the company has always had control."

"That Wang Defa is just a puppet who signs documents."

"I am Lin Che."

Lin Che patted his chest, his eyes slightly red, looking utterly loyal.

"I took the blame for half a year in order to maintain control of the company and to fight against SoftBank."

"I worked day and night, and my hair turned completely white."

"And now, someone's stabbing me in the back?"

Lin Che suddenly turned his head and stared intently at Li Mo in the corner.

"Mr. Li."

"This top-secret agreement is known only to Mr. Ma and me."

"I don't blame you for not knowing."

"But in order to bring me down, you went so far as to report me to the SEC and even tried to drag the company down with you."

"What are your intentions?!"

A counter-attack.

A desperate comeback.

Li Mo was completely dumbfounded.

He looked at the "old" document and at the bright red official seal of the Wireless Business Division.

His mind went blank.

Six months ago?

How is that possible?

He checked all the files, but there was no such document at all!

This is a fake! This is absolutely a fake!

"It's fake! It's fake!"

Li Mo rushed over, pointing at the document and yelling, "President Ma! He's lying! He just did this! He's deceiving you!"

"That's enough!"

Mr. Ma gave a sharp shout.

The sound wasn't loud, but it was like a thunderclap.

Mr. Ma took the document.

He glanced at the date, then at Lin Che.

As an exceptionally astute businessman, he probably guessed the origin of this document.

But does that matter?

The SEC subpoena is now on the table.

If Lin Che is admitted to embezzlement, Ali is finished.

If this document is acknowledged to be genuine, Alibaba... has a secure landing.

This even proves the management's foresight.

This is a multiple-choice question that doesn't require a selection.

Mr. Ma closed the document.

He looked at Lin Che with deep eyes.

It was a kind of praise that said, "You're really something, daring to outsmart even me," and a tacit understanding that said, "Since you've paved the way, I'll just follow it."

"Joe".

Mr. Ma handed the document to Mr. Cai Chongxin.

"File it."

"Reply to the SEC: This is a normal strategic move by the company. It is a special purpose entity under the VIE structure, and all transactions are legal and compliant."

"Yes."

Joseph Tsai took a deep breath and accepted the document.

At that moment, black completely turned into white.

Mr. Ma turned his head and looked at Li Mo.

His eyes were cold, as if he were looking at a dead person.

"Li Mo".

"You are the head of the compliance department."

"Instead of investigating the outsider, you're colluding with outsiders to frame a meritorious employee of the company?"

"Your stance is very problematic."

Li Mo collapsed to the ground.

He knew he had lost.

We lost completely.

He wanted to use the rules to kill Lin Che.

But Lin Che redefined the rules.