How can a business that looks like its a lucrative business lead to such a big loss? What do they do with the money? Whose pocket did the money end up in?
The story revolves around the people who do the acceptance business.
It starts with a meeting in 2012.
In the second half of 2012, Yu Qun, who was still working in the Taijiang Branch of CITIC Bank, met Lian Lilong during his work. And all the stories revolve around Lian Lilong, who is engaged in the bank acceptance business.
After knowing Lianlilong, Yu Qun began to borrow money with Lianlilong, lending 2 million to 5 million RMB at a time to Lianlilong to earn interest. And thats just the beginning.
Due to the business needs of Lianlilong, Yu Qun introduced Lianlilong to Chen Xiaobing, then president of Fuqing Longtan Branch of China Merchants Bank. Chen Xiaobing heard that Lian Lilong was engaged in the bank acceptance of bills of exchange business with considerable profits, which facilitated the signing of the Intermediate Loan Agreement with Lian Lilong on April 21, 2013. Chen Xiaobing agreed to provide information and ways of borrowing to his colleagues, and introduced Lian Lilong and the lender to negotiate directly to help Lian Lilong complete the loan. Lian Lilong signed the Intermediate Loan Agreement with Chen Xiaobing on April 21, 2013. The interest paid on the loan is 1.4 per thousand (1.4 per thousand) per day.
Chen Xiaobing was not satisfied with introducing resources after tasting a little sweetness. He began to take the road of illegal deposit absorption.
On May 13, 2013, co-author Chen Xiaobing signed the Framework Agreement on Short-term Loans with Lianlilong, which stipulated that Chen Xiaobing would lend Lianlilong one or more short-term loans for the invoicing margin business of Lianlilongs client enterprises. Lianlilong would pay Chen Xiaobing 0.6(0.6 per thousand) interest on loans per day, with the balance of co-authors. The group acts as the guarantor of Lianlilongs loan.
From March 2013 to October 2013, Chen Xiaobing illegally absorbed more than 100 million yuan from 40 people, such as Lin Mou, Chen Mou and He Mou, in order to help others manage their money or do their own bills business and gain considerable profits, and then remitted the above money to Lianyuan by direct transfer or transfer through bank accounts controlled by the remaining groups. Lillon or his company account.
Chen Xiaobing, president of Fuqing Longtan Branch of China Merchants Bank, not only illegally absorbed deposits by himself, but also led his wife to commit crimes together.
During this period, Chen Xiaobings wife, He Mei, assisted Chen Xiaobing to absorb funds. Some of the funds were transferred from He Meis bank account to the bank account controlled by the remaining group. He Mei was responsible for transferring interest to the bank accounts of the victims, such as Lin Mou and Chen Mou, and phoned to confirm to the victims. By December 2013, Chen Xiaobing and his wife He Mei had absorbed a total of 1876.415 million yuan from the victims.
The remaining group of CITIC Bank employees also began to illegally absorb deposits. Yu Qun remitted 9.1 million yuan of RMB and 53.9 million yuan of RMB to Lian Lilong from more than 20 relatives, friends and colleagues to earn interest differential.
Is there no license for making acceptance draft? Where did the money go?
The president of the branch of the Recruitment Bank, his wife and the staff of CITIC Bank raised more than 200 million yuan and handed it to Lian Lilong. But did Lien really use the money for bank acceptance of bills of exchange and cross-bridge margin business, as he said?
According to Lian Lilongs statement, he met Chen Xiaobing through Yu Qun in February and March 2013. After the first meeting, the two sides talked about business on the phone. Lian Lilong told Chen Xiaobing by telephone that he was going to do the business of bank acceptance bill cross-bridge deposit and acceptance bill cross-bridge discount. It needed a lot of money, from which 40% of the funds were allocated to Chen Xiaobing, 60% of the funds were allocated, and then the profits were shared equally between the two sides.
And it is this good deal that has set the head of the branch of the China Recruitment Bank on the road of illegal deposit absorption.
At the end of April and the beginning of May 2013, Lian Lilong and Chen Xiaobing said that the licenses of financial companies used for acceptance of bills of exchange could not be granted. Later, Chen Xiaobing told Lian Lilong that he had raised money in Fuqing and asked him if he needed it. Lian Lilong said that since the money had come in, it would be borrowed and calculated to him at the interest rate of $200 per month of $10,000.
Since mid-May 2013, Chen Xiaobing has been lending money to Lianlilong one after another. At its peak, Chen Xiaobing lent more than 160 million yuan to Lianlilong.
Paper cant wrap fire in the end. After that, even Lillon was short of funds and could not return the principal and interest on time.
At the end of August and the beginning of September 2013, even Lillon was short of funds and repaid the loan to the bank. The bank did not lend him money again. Even if Lilong cant return the amount of money Chen Xiaobing proposed to recover on time, the interest will be paid until September 2013.
According to Chen Xiaobings statement, during May to August 2013, Lian Lilong apparently asked Chen Xiaobing to help him raise funds. Then he used the funds to do the business of bank acceptance cross-bridge deposit in Sanming City. In fact, Chen Xiaobing learned through his own way that during these months, Lian Lilong had transferred Chen Xiaobing to him. Some of the funds are transferred to the bank accounts of Lianlilongs brother and wife, and the bank accounts of Yu Qun and Yu Quns father through multiple bank accounts.
At this moment, Chen Xiaobing began to suspect that Lian Lilong was cheating money. He did not use the money to do the business of bank acceptance cross-bridge deposit and bank acceptance discount, but transferred the money.
On December 23, 2017, Chen Xiaobings wife He Mei went to the Shenzhen Public Security Bureau to surrender her case. After surrendering her case, she was temporarily detained in a detention center in Nanshan District of Shenzhen and arrested on the same month 27. He is now detained in the Second Detention Center of Fuzhou City.
Before that, on October 29, 2015, Yu Qun had submitted his case to Lianjiang County Public Security Bureau. Yu Qun was arrested on suspicion of fraud and transferred to bail pending trial on the 30th of the same month.
He Mei, without the approval of the relevant departments, conspired to absorb funds from the public totalling 1876.415 million yuan, disrupting the financial order and causing losses of 71.2543.26 million yuan, a huge amount of which constitutes the crime of illegally absorbing public deposits. The Fuzhou Intermediate Peoples Court of Fujian Province sentenced He Mei to four years and six monthsimprisonment with a fine of RMB 150,000.
According to the first instance judgment of Fuqing Peoples Court of Fujian Province, Yu Qun was convicted of illegally absorbing public deposits, sentenced to three years and six monthsimprisonment, and fined RMB 100,000 yuan.
Lian Lilong and Chen Xiaobing have been dealt with separately.
Bank clerks use banks as a cover
In the process of absorbing deposits, Chen Xiaobing used his position convenience to lie about helping others to manage their money, and even took customers directly to the bank office to illegally absorb deposits under the guise of the bank.
According to Yus testimony, during the chat, Mr. and Mrs. Chen encouraged Yu to remit money to him to help him make financial products, and guaranteed 3-4% monthly income. They asked Chen Xiaobing what financial products were, but Chen did not tell him what specific financial products were, only told him that he was the president of China Merchants Bank and would not cheat. His money, if you want to get it back at any time, so he believed it.
Another victim, Lin Mous testimony, showed that when Lin Mou was in Chen Xiaobings office on the second floor of Longtan Merchants Bank, some clients came to Chen Xiaobings office. Chen Xiaobing told them about investing in bank acceptance business, with high profits and safe funds. His wifes relatives and friends also invested in this business, and they could use funds whenever necessary. Take it back and wait.
In fact, it is not an example that bank employees illegally absorb public deposits by taking advantage of their positions.
In April this year, the Yongchuan Supervisory Branch of the Banking and Insurance Regulatory Commission imposed a penalty on Pan Qichun, a bank employee, for illegally absorbing public deposits by using his bank employee status and conducting business during his banking career, which prohibited him from engaging in banking work for life.
According to Article 176 of the Criminal Law of the Peoples Republic of China, Whoever illegally absorbs public deposits or disguises public deposits and disrupts financial order shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and a fine of not less than 20,000 yuan but not more than 200,000 yuan alone; if the amount is huge or there are other serious circumstances, he shall be sentenced to They shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and shall be fined not less than 50,000 yuan but not more than 500,000 yuan. If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons directly in charge and other persons directly responsible for the crime shall be punished in accordance with the provisions of the preceding paragraph.
Should banks be held accountable?
Yang Zhigang, a lawyer from Beijing Weiheng (Chengdu) Law Firm, told reporters that the illegal absorption of public deposits is manifested by the fact that the actors do not have the licence of financial institutions and raise funds for the public, with a certain high interest rate as a lure. In order to achieve high interest rates, the main body will invest through certain channels, but the actual situation is often that the return rate of investment projects is not high, or investment projects do not exist, or the main body will raise funds for non-bank lending. In the past, the interest promised by the main body is 1-3 points per month, and many investment projects can not maintain high interest, which eventually leads to the breakdown of the capital chain. Once broken, the principal will not be guaranteed. In the end, ordinary people are often left with nothing to lose.
Yang Zhigang told Daily Economic Journalist that some bank employees illegally absorb public deposits by using their bank employee status, which would make ordinary people question the stability of the national financial system and the credibility of banks. At the same time, there may be suspicions of bank staff fund-raising fraud, which may appear false labels in projects disguised as bank investment. In addition, it will also create a misunderstanding for ordinary people, which makes them think that financial institutions such as banks are equal to illegal financial institutions.
Should banks pay for bank employees under the guise of bank?
He told the Daily Economic Journalist that there was no guiding significance in the cases in which banks were held accountable. In each case, the details of the contract were different and the plaintiffs ability to prove evidence was different, and the results might be quite different.
Undoubtedly, the identity and location of bank employees are confusing. As ordinary people, trust in banks as legitimate financial institutions, but let the lawless elements drill holes. So, how to avoid such problems in daily life?
Wang Zhibin told reporters that for investors, we must pay attention to the nature of the product, the underlying asset situation and whether the expected rate of return is in line with common sense, and not be confused by the superficial information such as the identity of the salesperson and the place of signing the contract. At the same time, he said that ordinary people must be alert enough to all kinds of projects and products with a yield of more than 8%. After discovering a fraud, they should sort out and preserve relevant evidence as soon as possible, and report the case to the police in time.
Yang Zhigang said that for investors, the first thing is to identify whether it is a banks investment projects. When signing contracts with banks, they must be carefully screened. In reality, investors are often the elderly, this part of the population lack systematic financial knowledge, in the words of salesmen, it is easy to be urged to be unable to carefully identify. The second is the rate of return on investment projects. In the current financial environment, when the annual interest rate exceeds 6% - 10%, we should be vigilant enough. Thirdly, the use of funds, the specific purpose of project fund-raising, and the existence of investment projects. When encountering such investment projects, dont blindly sign contracts first. We can determine the authenticity of investment projects through various channels. At the same time, you can ask other staff of the bank outlet.