Chapter 37
Chapter 37
Chapter 037 of the Black-Haired Investor Awakened as a Superhuman
==========
On the plane back to New York, I reached one conclusion.
‘I’ll need a law license, at least.’
This time, I was able to prevent a crisis by discovering a problem during simple paperwork.
But if the situation had escalated to court, things would have been different.
In that case, I would have had to hire a professional lawyer.
No matter how much of a walking legal database I am, I can’t directly defend Alpha Inc Group and its subsidiaries in court without a law license.
Legally, AlphaMind is considered a separate entity from me, so self-representation isn’t allowed.
The New York State Bar Exam (UBE) is held every year in February and July.
The February exam had already passed. The upcoming July exam was postponed due to the COVID pandemic.
Still, it would be held sometime this year.
The problem was that I didn’t have a law degree, which is a basic requirement to take the bar exam.
It’s inefficient to go to law school now.
‘Just to waste time getting a degree?’
I already have all the legal knowledge in my head, so it’s absurd to spend years relearning it.
But it’s not like there’s no way.
If I can prove to the New York State Bar Examiners that I have sufficient legal knowledge to take the exam, I can get a waiver for the law degree.
Of course, this process won’t be easy, but you never know until you try, right?
So, I need a case that proves I’m qualified as a lawyer without a degree.
And what if I scratch the current government’s itch?
Leaving aside the Trump camp and the incident last time.
By solving exactly the problems they need, I can create an opportunity to prove my abilities.
Zzzzz!─
Sparks flew in my brain, and fragments of memories began to connect rapidly. Like sewing with delicate thread, scattered information is combined.
In that instant, a newspaper page emerged before my eyes, piercing through the memories of that time.
『 Luckin Coffee’s Massive Accounting Fraud
Luckin Coffee is a Chinese company that was listed on NASDAQ in 2019 and grew rapidly as a coffee chain, attracting the attention of American investors. However, a large-scale accounting fraud scandal was revealed, greatly undermining investors’ trust.
According to an internal investigation, the company intentionally inflated its sales by approximately $310 million from the second to the fourth quarter of 2019.
In this process, Chief Operating Officer Liu Jian and some employees were found to have systematically manipulated sales data to exaggerate the company’s growth.
As a result of this incident, Luckin Coffee’s stock price plummeted by more than 75% immediately after the announcement… 』
Coincidentally, it’s an incident that just broke the day before yesterday.
‘This is it!’
If I use this incident, I can not only scratch the Trump administration’s itch but also have the opportunity to prove my legal knowledge.
I immediately opened my bag and took out my laptop. The dim lighting in the cabin reflected on the screen, but it didn’t bother me at all.
It was from the moment I turned on the power and placed my fingers on the keyboard.
「 Legal Opinion
Subject: Luckin Coffee Accounting Scandal Shows the Urgency of the Foreign Company Accountability Act
Author: Hyun-woo Na 」
Thoughts overflowing from the depths began to pour out through my fingertips.
Tap. Tap tap─
* * *
The conference room was quiet.
White House Counsel Pat Cipollone and Justice Department officials were sitting around a round table.
In front of them was the opinion paper that had been submitted last night, neatly arranged.
Titled “Luckin Coffee Accounting Scandal Shows the Urgency of the Foreign Company Accountability Act,” it was the opinion paper that had robbed Cipollone of his sleep last night.
Counselor Cipollone picked up the opinion paper and said quietly.
“Did everyone read the part about the power vacuum of the Public Company Accounting Oversight Board (PCAOB)?”
His gaze slowly swept across the room.
“The Sarbanes-Oxley Act was designed to ensure accounting transparency, but it accurately points out the reality that this principle is not properly applied to foreign companies, especially Chinese companies. What did the Justice Department think?”
Deputy Attorney General Jeffrey Rosen of the Justice Department took the floor.
“That’s right. It persuasively connected the problem of the PCAOB not being able to access Chinese accounting firms based on the Sarbanes-Oxley Act. It’s a concise and clear logic that’s hard to refute.”
At that time, Deputy Attorney General Rosen’s gaze was still fixed on the opinion paper. It was as if he had discovered a jewel he had been searching for for a long time.
He pointed to a specific passage with admiration.
“Frankly, it’s hard to come across this level of logic.”
At his words, the heads of the people in the conference room nodded in unison.
“It’s concise and clear. There are no unnecessary expressions. Finding a basis to refute this is… virtually impossible.”
Deputy Attorney General Rosen closed the opinion paper and sighed deeply. But it wasn’t an expression of fatigue, but a sincere admiration for the legal meticulousness and perfection of the opinion paper.
Even after letting out a sigh, the pounding of his heart didn’t subside.
“Moreover, this opinion paper doesn’t miss the core of the problem. The fact that the PCAOB can’t access accounting firms in China may seem like just a problem of one country, but.
It persuasively explains how seriously the aftermath undermines the credibility of our securities market.”
Once opened, his mouth didn’t stop.
“Legal basis, policy necessity, and even the urgency of the current situation, all elements are perfectly harmonized. The part that brought the pandemic situation to the core of the logic is especially great.”
He raised his hand over the opinion paper and raised his voice without realizing it.
“Who can refute this?”
All the conference participants were agreeing with Deputy Attorney General Rosen’s conviction in silence.
Deputy Attorney General Rosen’s gaze turned back to Counselor Cipollone.
“I’d like to discuss it directly with the proposer. Who is it?”
It wasn’t just Deputy Attorney General Rosen.
The names of prominent legal scholars flashed through the minds of the conference participants.
Alan Dershowitz, Ruth Bader Ginsburg, Amy Coney Barrett…….
But it was none of them. As the attention of all the participants was focused on Counselor Cipollone, he hesitated to answer.
“Everyone.”
He carefully opened his mouth.
“Has anyone ever heard of the name Hieonwoo?”
A long silence flowed in the room at that moment.
Counselor Cipollone had heard the name for the first time yesterday, but that wasn’t the case for all the participants.
Some, who had been tilting their heads, soon began to shine their eyes and look at each other’s reactions.
Deputy Attorney General Jeffrey Rosen of the Justice Department was the first to break the silence.
“Hieonwoo… it’s definitely not unfamiliar. Ah, isn’t he a figure who’s been attracting attention in Wall Street recently? He’s a rising name as a next-generation fund manager. That’s the only Hieonwoo I know.”
Deputy Attorney General Rosen’s brow furrowed.
Of course, he had expected to hear the name of one of the leading scholars of the time.
He found it difficult to understand that a name that had nothing to do with the legal profession had emerged at the center of the discussion.
“That’s the person the Deputy Attorney General is talking about. He’s the proposer who submitted this opinion paper.”
Gasp!
Small gasps erupted from various places in the conference room.
The atmosphere in the room heated up, and the participants’ gazes turned back to the opinion paper in unison.
The sound of documents unfolding and the scratching of pens taking notes filled the space.
Some focused with their foreheads on their hands, and others adjusted their glasses and brought their faces close to the document.
The concentration of the conference participants became even more intense.
The tips of the pens underlining important sentences moved faster, and some whispered to their colleagues sitting next to them to confirm something.
However, despite their efforts, the legal logic in the opinion paper didn’t allow even a speck of flaw.
One by one, they gave up, and more and more participants put down the documents and looked at each other.
Considering that all the participants gathered here are publicly recognized masters in finding legal errors.
The perfection of the opinion paper was even more astonishing.
However, all of their faces still had a common emotion.
Admiration for the tremendous talent that connected the legal mechanism of this opinion paper, and at the same time, deep questions about why the person who possessed that talent wasn’t in the legal profession.
He wasn’t in the legal profession, but in the financial world.
“…No, how……”
It wasn’t even clear whose voice it was that burst out as if possessed by something.
All the participants paused for a moment as if they had said it themselves.
“…It’s hard to believe.”
Deputy Attorney General Rosen said. As if understanding Deputy Attorney General Rosen a hundred times, Counselor Cipollone replied.
“I did too. Until I had a direct conversation with him.”
Counselor Cipollone’s eyes slowly blurred.
Unlike his body sitting in the conference room, his thoughts went back deeply to the time he had a phone call last night with someone who had also excelled in law.
“Law is no different from finance.”
From that conversation yesterday, which started like that, Counselor Cipollone felt it.
This young man is not just a financial expert, but someone with a special talent who can cross the boundaries of law and finance and present a new path.
Such people are often called geniuses in the world.
* * *
“…The Foreign Company Accountability Act, which is currently being discussed in Congress, is attracting more attention in this context.
This bill aims to require foreign companies to comply with federal accounting standards and undergo transparent audits.”
I barely got out of bed while turning up the volume on the television.
Even though I stayed in Silicon Valley for a day, consecutive hours of flying were quite tiring.
In addition, the constant calls with the White House Counsel completely exhausted me.
His meticulous legal questions and demands were endless, and by the time the conversation ended, I had almost no energy left.
But it was worth it. The message I wanted had arrived.
When I turned on my phone, a short sentence appeared under Pat Cipollone’s name.
[ The request for a degree waiver will be approved. The bar exam schedule has been adjusted to October. ]
Next, another message came in.
[ It is a great blessing for our federal government that a talent like you has emerged in this era.
Please continue to prepare.
God Bless America.
– Your ardent supporter ]
“God Bless America……”