“What …… are you talking about?!”
Hearing these words, Fei Jianzhong’s eyes went black and he almost fainted on the spot.
Luckily, Yuan Zixu was by his side to hold him up, and at the same time, he pressed hard on his tiger’s mouth, before he regained consciousness.
Immediately afterwards, he questioned loudly and angrily, “How is that b*****d qualified to activate the board’s highest emergency plan?
Ah Cheng explained, “The Eldest Master called a meeting with all the directors and listed all the details of the Swiss bank account you went to the Group to mobilise funds ……”
“He told the board that you had prepared US$200 billion with great fanfare just to buy a nebulous elixir of immortality ……”
“He believes that your sanity has developed a great cognitive bias due to your current health condition, and if you continue to serve as the chairman, it will cause significant financial losses to the group, and it will pose a great crisis and risk to the group’s subsequent operations, which is why the highest emergency plan was activated ……”
Speaking here, Ah Cheng continued, “At the board meeting, all the other board members, except me, also voted in favour of him initiating the Supreme Emergency Plan, and he was successfully elected as the Group’s interim chairman, and the first order he signed after becoming the acting chairman was to order the freezing of the US$200 billion cash you had prepared in the Swiss bank ……”
When Fei Jianzhong heard this, his entire body instantly collapsed!
The Supreme Emergency Plan, a set of plans developed by the Fei family’s board of directors, specifically to deal with emergency contingencies.
Just like the Vice President of the United States of America could urgently take over as President and issue orders on behalf of the President when the President was in danger, it existed to deal with the most serious and urgent emergencies.
However, to activate the emergency plan, it is not just a matter of the second-in-command talking about it. There must be enough evidence to prove that the emergency is really urgent, and the majority of the board members must confirm it before it can be activated.
However, Fei never dreamed that his eldest son, who was also the next heir to the family head, would take advantage of his absence to seize the opportunity to buy the Spring Return Pill and use it to activate the emergency plan and quietly usurp power!
Moreover, the first thing he did after usurping power was to freeze the group’s funds in the Swiss bank and completely cut off his bid for the Spring Return Pill!
At this moment, Fei Jianzhong was extremely angry and regretful.
Not only did he regret not seeing his son’s true colours, he also regretted that he had not transferred the funds for the purchase of the Spring Return Pill to his own personal account first.
After all, it was a huge sum of US$200 billion, and according to US tax laws, as soon as the money pa*sed through Fei Jianzhong’s personal account, then he would need to pay personal taxes first.
Under US tax law, using a group account not only eliminates Fei Jianzhong’s personal income tax, but also allows the treasurer to include the money in the operating costs of the business under another name.
In this way, not only are you exempt from paying personal tax, but you can also reduce your corporate profits and make your corporate tax burden lower.