On June 24, the Liubei Court sentenced two cases (same criminal facts) through remote hearings involving pension fraud cases in which investment in pension projects was used to obtain high returns as a gimmick. A total of 203 elderly people reported the case, and the amount involved was as high as 25.13 million yuan.
The actual controller of the company involved in the case, Gong, was convicted of fund-raising fraud and was sentenced to 13 years and six months in prison and fined RMB 500,000; Gong's wife Wei, the company's business directors Su and Xiong For the crime of illegally absorbing public deposits, he was sentenced to four years and six months, three years and ten months, and three years and six months respectively, and fined RMB 150,000, RMB 80,000, and RMB 70,000 respectively.
The court ordered the above-mentioned defendants to compensate the participants in the case for economic losses. This case is the first batch of criminal cases involving pension fraud that Liubei Court accepted and pronounced since the nationwide special campaign to crack down on pension fraud.
Liubei Court found after trial that from October 2014 to March 2020, the defendant Gong successively used
Guilin Yihe Senior Apartment Investment Management Co., Ltd.
Guilin Xinzhile Health Management Co., Ltd.
Guilin, which he established or participated in Xinzhile Health Management Co., Ltd. Liuzhou Branch
Shenzhen Yuzhou Network Technology Co., Ltd.
Shenzhen Yuzhou Network Technology Co., Ltd. Liuzhou Branch and other companies are operating in the name of
without the legal approval of the financial authorities and without obtaining the " Financial License" 》, on the grounds of providing health care and elderly care services, developing membership, purchasing consumption options, etc., regular payment of cash high-value consumption coupons with annual interest rates ranging from 8% to 18%, return of rent subsidies, consumption card subsidies, etc. Rebates and the promise of repaying the principal upon maturity are used as bait. By hiring business personnel to distribute leaflets, organize promotion meetings, and organize tours in places where the elderly group is densely populated, unspecified elderly people are induced to pay the reservation fee for a retirement apartment, purchase consumption options, etc. form of investment in the above-mentioned companies. Most of the funds collected by
are used to pay rebates and repay principal, business department activity expenses and related personnel commissions, as well as return personal loans, capital turnover, etc. Only a very small part of the funds are actually used to invest in pension projects, and The invested elderly care project has not been actually completed. Gong could not explain the actual use of most of the funds; since 2018, the defendant Wei continued to help Gong transfer money even though he knew he was engaged in illegal fund-raising activities; the defendants Xiong and Su in 2014 and During 2018, he was successively appointed as the company director, in charge of the sales business department and participated in illegal activities of collecting deposits from the public.
After accounting, Gong and others absorbed a total of 25.13 million yuan in funds from 203 reporting participants in the above method, and returned a total of 2.049871 million yuan in funds to the participants under various names.
During the trial, defendants Gong and Wei denied the facts of the crime they were accused of. Defendants Su and Xiong basically recognized the facts of their crime, but believed that they were not the principal culprits.
Liubei Court held after trial that
defendant Gong concealed his true personal property status and company operating status for the purpose of illegal possession without obtaining relevant qualifications, and used fraudulent methods to illegally raise funds on the pretext of providing "elderly care services." His behavior constituted the crime of fund-raising fraud;
Defendant Wei knew that Gong was carrying out illegal fund-raising activities, but still provided him with capital circulation and other assistance, and his behavior constituted the crime of illegally absorbing public deposits;
Defendants Su and Xiong successively served as directors and supervisors The sales business department, without obtaining relevant qualifications, used the pretext of providing "elderly care services" to collect deposits from unspecified elderly people by distributing leaflets, holding promotion meetings, etc., and its behavior constituted the crime of illegally absorbing deposits from the public.
Taking into account the defendants’ roles in the crime, confession and repentance, Liubei Court made the above judgment, and the defendants Gong and Wei appealed in court.
Judge’s words:
Criminal cases involving pension fraud have seriously affected social stability and disrupted the normal market economic order. This centralized sentencing fully demonstrates the Liubei Court’s firm determination to punish pension fraud crimes in accordance with the law.Liubei Court will continue to severely punish crimes of pension fraud in accordance with the law, continue to promote special actions to crack down on pension fraud, effectively protect the legitimate rights and interests of the elderly, and make every effort to maintain economic development and social harmony and stability.
would like to remind the elderly to be vigilant, enhance risk prevention awareness and identification ability, and beware of falling into fraud traps.
Correspondent Deng Yueyuan of Nanguo Jinbao
Source: Nanguo Jinbao
