Shanxi Lvliang Gang fraud 21 million yuan principal sentenced to no trial

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 Shanxi Lvliang Gang fraud 21 million yuan principal sentenced to no trial


After trial, it was found that since 2008, the defendant, Wang Fenglian, has promised depositors to pay interest monthly and repay capital at any time without the approval of relevant departments and without any economic entity in public places such as the business hall of the Industrial and Commercial Bank of Liulin County, the street-facing restaurant of the Huifeng Hotel in Liulin, and the apartment houses of Yongzao and Bandung, respectively, with 2 cents and 2 cents, respectively. High monthly interest rates ranging from 3, 4 and 5 points are bait. They openly absorb deposits from the public and issue receipts to depositors. With the increasing number of people participating in lending to Wang Fenglian, some of the lenders contacted Wang Fenglian by telephone and took the initiative to lend money to his house. The defendant Wang Fenglian arranged for the defendant Tian Youcai to participate in collecting and paying on behalf of him and issuing vouchers when he went out. The amount received was shared with the defendant Wang Fenglian. Entrusted by Wang Fenglian, the defendant Kang Honghong also participated in the illegal absorption of public deposits, and the amount absorbed was handed over to the defendant Wang Fenglian to make a profit by lending and earning a profit margin of one point. In the spring of 2012, after the defendant Wang Fenglians capital chain broke, the defendant Tian Anping was arranged by Wang Fenglian to pay principal and interest to some lenders by card transfer. From September to November 2011, at the instigation of Wang Fenglian, the defendant Liu Rabbit paid interest and principal back to 20 depositors, Chen Jianbing and Che Xiaoping, through bank remittances and online banking payments, totaling 9.961 million yuan. In addition, since 2010, the defendant Tian Youcai and Tian Anping have invested in Liulin Jiasheng Fly Ash Brick Manufacturing Co., Ltd. in the process, they have also started to absorb public deposits at a monthly interest rate of 2 cents, respectively, for investment in the brick factory. The defendant, Tian You Cai, also used money to lend money to others.

The defendant Tian Youcai, Tian Anping and Kang Honghong helped the defendant Wang Fenglian to illegally absorb public deposits and use them for illegal lending activities. A total of 2108408900.00 yuan was deposited by 1009 people, and the outstanding amount was 1837187732 yuan. As of May 2, 2012, the defendant Wang Fenglian illegally absorbed 683 peoples deposits of 2069555600.00 yuan, repaid the principal of 32453000.00 yuan, the interest of 55911100.00 yuan, the interest paid 179737100.00 yuan, and the outstanding amount of 1801454400.00 yuan. The defendant Tian You CAI has illegally absorbed 309 yuan of deposits and 35848300.65 yuan, and the amount has not been returned to 33107432 yuan. The defendant, Tian Anping, illegally absorbed 4 personsdeposits of 1000000.00 yuan, paid interest of 277,200.00 yuan, and had not yet returned the amount of 722,800.00 yuan. The defendant, Kang Hong Hong, illegally absorbed 13 yuan of deposits, 2005000 yuan, and had not yet returned the amount of 1903100 yuan.

During the investigation phase, the public security organs seized 55 items of buildings, structures, cars and real estate (parking spaces) in brick factories, frozen Du Yingchuns investment in 20% of Zhao Xiaochangs equity in Inner Mongolia Yuanxin Nickel Company, and recovered 40.846 million yuan in cash.

During the trial, the public security organs and procuratorial organs frozen the bank account funds of the defendants Wang Fenglian, Tian Anping, Zhang Honghong, Li Yongchun, Cheng Xiaoping and Tian Youcai, totaling 19724157.52 yuan; the insurance of the defendants Wang Fenglian, Tian Youcai and Tian Anping totaled 12576555 yuan. In addition, Zhang Honghong returned $29 million 100 thousand in stolen money during the first instance trial.

According to the facts ascertained above, the Lvliang Intermediate Peoples Court decided in the first instance that the defendant Wang Fenglian committed the crime of fund-raising fraud, sentenced him to life imprisonment, deprived of political rights for life, and confiscated all personal property; the defendant Tian was convicted of fund-raising fraud, sentenced to 10 yearsimprisonment and confiscated all personal property; Law on the crime of absorbing public deposits, sentenced to eight yearsimprisonment and a fine of 350,000 yuan; decided to carry out fourteen years imprisonment and confiscate all personal property; the defendant Kang Hong committed the crime of illegally absorbing public deposits, sentenced to four yearsimprisonment and a fine of 250,000 yuan; the defendant Tian Anping committed the crime of illegally absorbing public deposits; and the defendant Tian Anping committed the crime of illegally absorbing public deposits. The crime of public deposits shall be sentenced to two yearsimprisonment and a fine of 150,000 yuan; the defendant Liu Raosheng shall be sentenced to six months imprisonment and a fine of 50,000 yuan for illegally absorbing public deposits; the defendant shall recover the RMB 29.1 million yuan returned by Zhang Honghong to the hospital and return it proportionally to the victim; and the defendant Liu Raosheng shall be sentenced to six monthsimprisonment and a fine of 50,000 yuan for illegally absorbing public deposits; Property involved in the case shall be disposed of by the seizure organ and returned to the victim proportionally; stolen money and stolen goods that have not yet been recovered shall continue to be recovered and returned to the victim proportionally. After the sentencing of the first instance, four defendants, Wang Fenglian, Tian Youcai, Kang Honghong and Tian An, filed an appeal. Source: Shanxi High Court editor: Xun Jianguo _NN7379

According to the facts ascertained above, the Lvliang Intermediate Peoples Court decided in the first instance that the defendant Wang Fenglian committed the crime of fund-raising fraud, sentenced him to life imprisonment, deprived of political rights for life, and confiscated all personal property; the defendant Tian was convicted of fund-raising fraud, sentenced to 10 yearsimprisonment and confiscated all personal property; Law on the crime of absorbing public deposits, sentenced to eight yearsimprisonment and a fine of 350,000 yuan; decided to carry out fourteen years imprisonment and confiscate all personal property; the defendant Kang Hong committed the crime of illegally absorbing public deposits, sentenced to four yearsimprisonment and a fine of 250,000 yuan; the defendant Tian Anping committed the crime of illegally absorbing public deposits; and the defendant Tian Anping committed the crime of illegally absorbing public deposits. The crime of public deposits shall be sentenced to two yearsimprisonment and a fine of 150,000 yuan; the defendant Liu Raosheng shall be sentenced to six months imprisonment and a fine of 50,000 yuan for illegally absorbing public deposits; the defendant shall recover the RMB 29.1 million yuan returned by Zhang Honghong to the hospital and return it proportionally to the victim; and the defendant Liu Raosheng shall be sentenced to six monthsimprisonment and a fine of 50,000 yuan for illegally absorbing public deposits; Property involved in the case shall be disposed of by the seizure organ and returned to the victim proportionally; stolen money and stolen goods that have not yet been recovered shall continue to be recovered and returned to the victim proportionally.

After the sentencing of the first instance, four defendants, Wang Fenglian, Tian Youcai, Kang Honghong and Tian An, filed an appeal.