China News Agency, Guangzhou, Oct. 30 - the first trial of the loan fraud case of Lin Yaochang, the graveyard master in Guangdong Province, has attracted much attention from all walks of life. Shanwei intermediate peoples Court of Guangdong Province announced on the evening of Wednesday that it had recently pronounced a sentence of first instance in the loan fraud case of Lin Yaochang, the defendant, for the crime of loan fraud, sentenced Lin Yaochang to life imprisonment, deprived of political rights for life and confiscated all personal property; recovered the illegal income of 59.73 million yuan and returned it to Lufeng rural credit cooperative association.
Lin Yaochang, a former deputy of the peoples Congress of Shanwei and Lufeng cities in Guangdong Province and the head of Anfu cemetery in Tanxi Town, Lufeng City, was previously charged with the crime of illegal occupation of agricultural land and bribery, known as the grave Lord by the community and the media, and attracted public attention. In 2016, Lin Yaochang was sentenced to four years in prison and a fine of 50000 yuan.
Lin Yaochangs loan fraud case was heard in public on May 9, 2019. Shanwei peoples Procuratorate appointed prosecutors to appear in court to support the public prosecution.
After trial, the court found out that from November 2011 to June 2013, the defendant Lin Yaochang, in the name of kaluda company and Huacheng Hotel, used false economic contracts, fabricated false financial statements, and mortgaged the value of the virtual high collateral, etc. to loan a total of RMB 60.3 million to Lufeng rural credit cooperative Association. After obtaining the loan funds, Lin Yaochang, the defendant, failed to repay the principal and interest within the prescribed time. Until the time of the crime, there was still a loan principal of RMB 59.73 million that could not be repaid.
After the trial, the court held that Lin Yaochang, the defendant, had the subjective intention of illegally taking the loan as his own, and objectively carried out the act of obtaining the loan by fraud, which was in line with the subjective and objective elements of the crime of loan fraud. For the purpose of illegal possession, the defendant Lin Yaochang swindled the loan of financial institutions, with a huge amount. His act has constituted the crime of loan fraud and should be punished according to law, so he made the above judgment.