Another Ponzi scheme is exposed! 2 billion yuan was raised, over 1.8 billion yuan was unpaid, and 1,400 investors were cheated.

Every edited | Wang Xiaobo Xu Hao　　　　

In the capital market, there has never been a shortage of cases of "thunder", but it is rare to raise funds illegally in the name of investment under the guise of private placement, which is what Zhongjin Guorui did.This "Ponzi scheme" raised more than 2.155 billion yuan. In the end, more than 1.8 billion yuan was unpaid, and 1,400 investors were miserable.

Image source: Photographic network (graphic has nothing to do)

Established in 2011, Zhongjin Guorui (full name: Shenzhen Zhongjin Guorui Fund Management Co., Ltd.) has a registered capital of 100 million yuan, and the actual controller is Qin Peng. After completing the filing and registration in June 2014, it became a private equity investment manager. On May 22, 2019, Zhongjin Guorui, who has always paid in time, suddenly issued a liquidation notice, announcing that it would no longer pay the principal and interest, leaving more than 1 billion capital holes, which suddenly triggered a shock in the industry.

On July 9, 2020, the Shenzhen Municipal People’s Procuratorate issued a Notice on the Rights and Obligations of Victims of Qin Peng’s Suspected Crime of Fund-raising Fraud and Nine People, including Zheng Mingming, Yin Jie and Zhou Kairan, were suspected of illegally absorbing public deposits. The case of Qin Peng, the suspect, Zheng Mingming, Yin Jie and Zhou Kairan, the suspect, was recently transferred to the Shenzhen Municipal People’s Procuratorate by the Futian Branch of shenzhen public for review and prosecution.

Image source: Shenzhen People’s Procuratorate

Over 1.8 billion outstanding, involving 1,400 investors.

According to the Notice issued by the Shenzhen Municipal People’s Procuratorate, the investigation organ found that Zhongjin Guorui did not use all the funds for futures and securities trading as agreed after publicly raising funds from unspecified people by means of public publicity, promising income returns and guaranteeing capital and interest, but directly used them as the company’s own funds to allocate and use according to actual needs. Most of them were used to pay the principal and income of investors due, and the rest were used for futures and securities trading. The operating expenses of the company, employees’ salaries, commissions, personal consumption in Qin Peng, foreign investment, repayment of the company’s historical debts, and some funds were transferred overseas to start companies and do transactions, resulting in a large amount of investment funds that could not be recovered and the overdue amount was huge.

At present,The amount raised by the three funds involved in the case issued by the company is 2.155 billion yuan, the amount paid to investors is 313 million yuan, and the amount unpaid to investors is 1.841 billion yuan, involving 1400 investors.

The Shenzhen Municipal People’s Procuratorate also stated that due to the large number of victims in this case, according to the relevant regulations, some victims could not be delivered after contact with our hospital, and now the victims in this case are informed of their litigation rights and obligations by means of announcement.

On February 7, 2020, the Shenzhen People’s Procuratorate approved the arrest of the suspect Qin Peng on suspicion of fund-raising fraud, and approved the arrest of nine people including Zheng Moming on suspicion of illegally absorbing public deposits.

Before the incident, I was still raising funds to set up new products.

Their own employees also pit together.

According to the information of private placement network, Qin Peng once worked for China Merchants Bank and Yintai Securities. The fund products managed by Zhongjin Guorui Fund cover stock type, hybrid type, quantitative type, FOF type and asset securitization, but many of them have been liquidated in advance, including Zhongjin Guorui Mixed Strategy No.3 Private Equity Investment Fund and Zhongjin Guorui Stock Strategy Quantitative Private Equity Fund No.1..

The private placement was also registered with the association on April 28, 2019 for the Zhongjin Guorui Strategy No.1 Private Equity Investment Fund.

On May 14th, 2019, Qin Peng announced at an internal meeting that the product would be liquidated, no more funds would be raised and the principal and income would be paid normally.This caused an uproar within the company, because about 90% of employees have invested in their own products.

After the liquidation notice came out on May 22, 2019, a large number of investors rushed to the office of Zhongjin Guorui, located on the 36th floor of China Merchants Bank Building, to learn about the situation, and learned that Zhou Caihong, the financial controller of the company, and Xiang Jieming, the head of the risk control department, had left in April, and the company was in a state of suspension. A series of materials provided by investors show that Zhongjin Guorui claims to invest 20% as inferior funds to protect the safety of investors’ principal, giving investors fixed income ranging from 10% to 14% every year, and the excess part belongs to the fund company.

Qin Peng may be sentenced to more than 15 years in prison

According to the Notice issued by Shenzhen Procuratorate, in addition to Qin Peng, there are also senior employees such as Zheng Mingming and Yin Jie, and a total of 10 people were involved in the case, including personnel administration manager, financial controller and fund sales.

According to the Securities Times, lawyer Wang Zhihui, a partner of Zhejiang Highgarden Law Firm, said that the actual controller Qin Peng was suspected of fund-raising fraud, and the amount was huge. If convicted, he would be sentenced to more than 15 years’ imprisonment or life imprisonment.

In addition, nine people, including executives and employees of Zhongjin Guorui, were suspected of illegally absorbing public deposits. Lawyer Wang Zhihui judged that if convicted, they would be sentenced to 3 to 10 years in prison.

Details of the persons involved:

The suspect, Qin Peng,He is the legal representative and actual controller of affiliated companies such as Shenzhen Zhongjin Guorui Fund Management Co., Ltd., Shenzhen Zhongjin Guorui Capital Management Co., Ltd. and Shenzhen Zhongjin Guorui Holdings Co., Ltd., and is responsible for the overall affairs of Shenzhen Zhongjin Guorui Fund Management Co., Ltd. and its affiliated companies, futures securities trading, the right to use capital allocation and foreign investment.

The suspect, Zheng Mingming,He is the company’s vice president and manager of the second marketing department, in charge of the second marketing department, the trading department, the customer service department and the sales of fund products.

The suspect Zhou Kairan,He is the chief financial officer of the company, responsible for managing the accounting and cashier of the finance department, daily financial review, futures and securities account management and financial approval, and assisting Qin Peng in allocating funds.

The suspect, Yin Jie,He is the manager of the first marketing department of the company, responsible for managing the performance appraisal of a financial manager and selling fund products.

The suspect, Wenna,He is the personnel administration manager of the company, responsible for personnel administration. In March 2018, he was sent to Hong Kong by Qin Peng to be responsible for the affairs of the affiliated company Hong Kong Fuyin Group. In August 2018, he worked as the head of the comprehensive department of the affiliated company Huashi Health Management Group, responsible for personnel administration.

The suspects Wang Tianyu, Wang Wei and Li Hongliang,He is the team leader of the second marketing department of the company, responsible for team management and sales of fund products.

The suspect is Wei Wei,He is the head of the marketing department of the company, responsible for team management and sales of fund products.

The suspect, Zhang Liqun,He is the financial manager of Wang Tianyu team in the second marketing department of the company, and is responsible for selling fund products.

Private placement qualification was cancelled, and the main person in charge was "blacked out"

In May this year, China Fund Industry Association announced the disciplinary decision against Zhongjin Guorui, which stated in detail six illegal facts of Zhongjin Guorui, and made relevant sanctions against the company and its principal responsible persons. Disciplinary action was taken to "cancel membership and cancel administrator registration".

The punishment decision shows that Zhongjin Guorui’s illegal facts mainly include: 1. After the private equity fund was raised, it was not filed with the China Foundation in accordance with the regulations; 2. The number of people raised for a single product exceeds the specified number stipulated by laws and regulations; 3. Raising funds from unqualified investors in the process of raising private equity funds; 4. Introduce private equity products to unspecified investors; 5. Promise investors that the principal will not be lost or the minimum income; 6. Failure to report major issues to the Association in time.

The China Foundation also announced the decision on the punishment of the main person in charge of Zhongjin Guorui, and Qin Peng was punished by "blacklisting for five years". Xiang Jieming, the person in charge of compliance risk control, is also proposed to take disciplinary action of "joining the blacklist for a period of three years".

National business daily synthesis

Securities Times, China Fund News, China, a brokerage firm, and every APP.

Cover image source: national business daily Liu Guomei photo (data map)