Men were sentenced to 12 years for luring thousands of people into online loans to help them defraud 18 million people.

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 Men were sentenced to 12 years for luring thousands of people into online loans to help them defraud 18 million people.


The scene of the trial. Map Provided by the Peoples Court of Jinshan District, Shanghai

More than 1,100 lenders have offered identity information to borrow money from online lending platforms to cash in for criminal suspects.

On October 12, Pengmei journalists learned from the Peoples Court of Jinshan District, Shanghai that recently, the court concluded a case of fraudulent loan principal from several online lending platforms. The defendant Yang Mojun induced more than 1,100 lenders to help them cash out through the online lending platforms and defrauded more than 18 million yuan from various online lending platforms. Eventually, Yang Mojun was sentenced to 12 yearsimprisonment and a fine of RMB 300,000 on first instance for committing fraud.

On October 28, 2018, the defendant, Yang Mojun, took the initiative to submit a case because of the rupture of the capital chain. He admitted that he had conspired with the lenders, relevant merchants and platform operators to defraud the principal of loans from various Internet lending platforms.

From December 2016 to October 2018, the defendant Yang Mojun, in order to seek illegal interests and obtain benefits without repayment as bait, found Cai Moufeng, Sun Moumei and others to make false loans to a consumer finance limited company, a Shanghai financial information service limited company and a (Beijing) network technology limited company. At the same time, Yang Mojun conspired with relevant businesses to hand over the loans made by the above companies directly or through platform salesmen to himself. After Yang Mojun obtained the money, he used part of the money for repayment of the loans before, and part for personal consumption, in addition to paying the benefit fees to the lenders, relevant businesses and intermediaries. Up to the incident, a total of more than 18 million yuan had been defrauded from various online lending platforms, of which more than 8 million yuan had not been returned.

The scene of the trial. Map Provided by the Peoples Court of Jinshan District, Shanghai

After the trial, the Jinshan court held that the defendant Yang Mojun, for the purpose of illegal possession, had repeatedly defrauded money with others, the amount of which was particularly huge, and his actions constituted the crime of fraud. The defendant, Yang Mojun, voluntarily surrendered and confessed his crime truthfully after the case was filed. He surrendered himself and could be given a lighter punishment.

Finally, the defendant, Yang Mojun, was sentenced to 12 yearsimprisonment in the first instance for fraud, and fined 300,000 yuan, ordering the defendant, Yang Mojun, to return compensation for the economic losses of the injured units within 10 days of the effective date of the judgment.

The judge reminded that as a lender, we should pay attention to protecting personal privacy information. We should not leave our own information on unknown websites at will. We should not offer information voluntarily for the sake of small profits, so as to give criminals a chance to take advantage of it. As an online lending company, it should not only play an active role in financing, but also strengthen the supervision and examination, strictly examine the borrowersqualifications, borrowing purposes and repayment ability, and track them in real time, so as to reduce the risk of platform lending. In this case, in addition to helping companies promote their own loan services, the salesmen of the platform involved also bear the responsibility of identifying the creditorsloan qualifications. However, in order to expand their own performance and obtain benefits, the relevant salesmen conspired with Yang Mojun, acquiescing the lenders cash-taking behavior and voluntarily abandoning the examination of loan qualifications, which became an important part of successful fraud by Yang Mojun. One ring. Source: Wang Ning_NB12468, responsible editor of Peng Mei News

The judge reminded that as a lender, we should pay attention to protecting personal privacy information. We should not leave our own information on unknown websites at will. We should not offer information voluntarily for the sake of small profits, so as to give criminals a chance to take advantage of it.

As an online lending company, it should not only play an active role in financing, but also strengthen the supervision and examination, strictly examine the borrowersqualifications, borrowing purposes and repayment ability, and track them in real time, so as to reduce the risk of platform lending. In this case, in addition to helping companies promote their own loan services, the salesmen of the platform involved also bear the responsibility of identifying the creditorsloan qualifications. However, in order to expand their own performance and obtain benefits, the relevant salesmen conspired with Yang Mojun, acquiescing the lenders cash-taking behavior and voluntarily abandoning the examination of loan qualifications, which became an important part of successful fraud by Yang Mojun. One ring.