China Net Loan Fraud Case Involving Up To 700 Million

< p > this is the first case of fraud in China's a href= "http://www.91se91.com/news/index_c.asp" > net loan < /a >. The amount involved is as high as 700 million yuan.

Zheng Xudong, a businessman in Wenzhou, invested in a jade investment fraud in Shenzhen.

He registered the "China Cultural Property Exchange" in Hongkong, and in the name of the trust company in Shenzhen, he built a number of net loan platforms to attract money.

Then, before the Spring Festival, he absconded with overseas money.

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< p > < strong > hyping jade making money > /strong > /p >

In September of last year, Mr. Hu, who lives in Guanlan, Shenzhen, aged 77, heard that the investment platform of the Chinese Cultural Property Exchange (hereinafter referred to as the "Chinese cultural exchange") is very profitable.

He sold the house at a low price of about 1000000 yuan, all of which invested in the jade investment product launched by the organization.

But he didn't understand the jadeite market at all.

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< p > January 23rd, there was an investor representative who came to Shenzhen City, "a href=" http://www.91se91.com/news/index_c.asp "trust" /a "Asset Management Co., Ltd. (hereinafter referred to as" Ruilong "), and saw the jade preserved in a small warehouse.

The more than 30 is packaged in mineral water tank and stacked at random.

Mr. Tsang, investor representative, touched with gloves, but could not see anything.

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The price of 8 emerald ornaments is up to 114 million 300 thousand yuan in a group of jadeite assets sold in a group of code "600004" issued by P.

One of the emerald ornaments known as "longevity and Ruyi" is evaluated by Mr. Chen, who has been engaged in jade business for many years, saying that ordinary bean seeds are of poor water head, rough carving, and very poor color. "In the wholesale market of jade, all the land is worth tens of thousands of yuan."

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< p > a jade like asset bag like this is sold on the stock exchange of the Chinese stock exchange, which has sold 9 shares. The rights and shares of each asset package will be split equally according to one yuan per share and purchased and traded by investors.

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At the beginning of P, Mr. Hu really made a little money.

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< p > its operation mode is similar to stock. Investors can purchase original stocks at the price of one yuan per share in the primary market, gain value after opening, or trade in the two level market, buy low and sell high.

At the highest level, the price of the asset pack has doubled several times, and the value of the jadeite has been fired to hundreds of millions of yuan.

The 8 asset packs in front are relatively normal. Most people can make money from hyped jade.

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< p > < strong > pension money has gone like this. < /strong > < /p >

< p > in January 14th of this year, Ninth jadeite assets were listed.

Investors find anomalies, and the Chinese money exchange is showing signs.

On that day, the agent told Mr. Hu that the second day "5 asset package" would have to be resumed.

He originally planned to buy 80 thousand yuan from a paction account, but instead of collecting the money, he remitted 200 thousand yuan into it.

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< p > this is also the last entry of < a href= "http://www.91se91.com/news/index_c.asp" > Chinese language exchange < /a >.

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< p > January 16th, the accounts of the Chinese Stock Exchange failed to withdraw funds.

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On the night of P, investors from all over the country gathered to the 21 floor of block A, East China International Centre, Shenzhen Office of the Chinese language exchange.

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< p > January 17th, investors Mr. Zhang went to Futian Economic Investigation Brigade report.

In January 20th, Futian Public Security Bureau issued a notice on the filing of the case, saying that "Zheng Xudong and others suspected of illegally absorbing public money should be investigated for criminal responsibility".

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< p > January 28th, Li Biaowu, executive director of the Chinese language exchange, was sentenced to detention.

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< p > meanwhile, there are three Shenzhen P2P lending platforms, namely, Sino credit trust, Hangzhou state venture capital and Shanghai Feng Yi Xin.

Investors said the actual controllers of the three platforms were Zheng Xudong.

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< p > accident.

Mr. Hu raised his blood pressure and his hands were cold.

"Old age money is gone."

There were many people who met him.

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< p > Shenzhen city finance office responsible person said that the Chinese stock exchange has not carried out any declaration and filing, which is illegal.

The Chinese language exchange is suspected of illegally absorbing public deposits and should be dealt with by economic investigation.

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