After spending money to buy routers, body fat scales and other electronic products, you can return the purchase money in full as long as you register Lianbi financial app and Huaxia Wanjia financial service app. Have you ever encountered such a "scam"? According to Shanghai No. 1 Intermediate People's Court (hereinafter referred to as Shanghai No. 1 Intermediate People's court), on the morning of December 8, 2021, a major fraud case of illegally raising more than 83 billion yuan, resulting in the loss of more than 1.1 million victims and a total of more than 12 billion yuan was sentenced. Gu Guoping, a capital player and the actual controller of Huiqiu Technology (now known as "tianxiaxiu"), a former A-share listed company, was sentenced to life imprisonment, deprivation of political rights for life and confiscation of all personal property for the crime of fund-raising fraud. Source: Shanghai First Intermediate People's court According to public data, Lianbi finance was established in 2012 and was known as the "four high rebate platforms" together with qianbao.com, Yatang finance and Tang xiaoseng. The annualized yield of some investments can be as high as 36%. 83 billion illegal fund-raising fraud sentenced On the morning of December 8, Shanghai No. 1 Intermediate People's Court (hereinafter referred to as "the court") publicly pronounced a judgment on the relevant cases, and Gu Guoping, the key figure, was sentenced to life imprisonment for the crime of fund-raising fraud. According to the court's investigation, Gu Guoping actually controlled Shanghai Lianbi Electronic Technology (Group) Co., Ltd. (hereinafter referred to as "Lianbi company") in January 2015. In July of the same year, Gu Guoping asked the defendant Nong Jin to set up a financial team in Lianbi company and develop the online platform of Lianbi financial app for illegal fund-raising. In order to expand the number of customers of Lianbi financial app, Gu Guoping uses Shanghai Feixun Data Communication Technology Co., Ltd. (hereinafter referred to as "Feixun company") actually operated by Gu Guoping to launch the "0 yuan purchase" marketing activity of purchasing routers and other electronic products with Lianbi company and registering Lianbi financial app members online, so that Lianbi company can return the purchase money in full. In short, if consumers buy electronic products such as routers, they can return the purchase money of electronic products in full after registering as a member of Lianbi financial app. However, after attracting the public to register, the online platform of Lianbi financial app released various financial products targeted at the false asset packages and directional entrusted investment projects of shell companies actually controlled by Gu Guoping, luring the social public to invest and buy with high interest return and promise to guarantee principal and interest as bait. In addition to Gu Guoping, Nong Jin, Chen Yu, Zhu Jun, Wang Jingjing and Zhang Jimin participated in the company's management, product design, fund allocation, system maintenance, etc. By the time of the crime, more than 908600 victims had been killed, and the actual economic loss was more than 9.971 billion yuan. In addition, since September 2017, the defendant Gu Guoping, in the name of Feixun company without authorization, cooperated with Huaxia Wanjia (Beijing) financial service outsourcing Co., Ltd., which is actually controlled by Huaxia Wanjia, to launch the "0 yuan purchase" marketing activity of purchasing body fat scales and other products of Shanghai Feixun company, and registered Huaxia Wanjia financial service app online, which can get a full refund of the purchase money. Shanghai No. 1 Intermediate People's court said that Gu Guoping and others used the above-mentioned similar means to trick the public into buying financial products on Huaxia Wanjia financial services app, illegally raising funds, and instructed the defendant Zhu Jun to take and occupy them. By the time of the incident, more than 194200 victims had been killed, and the actual economic loss was more than 2.602 billion yuan. The above two items caused a total of more than 1.1 million victims and an actual economic loss of more than 12.573 billion yuan. On the morning of December 8, the court publicly pronounced the case according to law, sentenced Gu Guoping to life imprisonment, deprived of political rights for life and confiscated all his personal property for the crime of fund-raising fraud; Nong Jin, Chen Yu, Zhu Jun, Wang Jingjing and Zhang Jimin were sentenced to fixed-term imprisonment ranging from 15 to 10 years and confiscation of personal property ranging from 5 million yuan to 600000 yuan respectively for the crime of fund-raising fraud. According to public data, Lianbi finance was established in 2012 and was known as the "four high rebate platforms" together with qianbao.com, Yatang finance and Tang xiaoseng. The annualized yield of some investments can be as high as 36%. P2P industry is under the thunder tide. In June 2018, the police filed a case against Lianbi finance for the crime of illegally absorbing public deposits, and Gu Guoping and other responsible persons were soon controlled. From February 4 to 5 this year, the Shanghai First Intermediate People's court held a public hearing of the first instance of the fund-raising fraud case of Gu Guoping, Nong Jin, Chen Yu, Zhu Jun, Wang Jingjing and Zhang Jimin. After audit, Gu Guoping and others illegally raised more than 83 billion yuan through the platforms of "Lianbi finance" and "Huaxia Wanjia financial services", resulting in more than 1.1 million victims and a total loss of more than 12 billion yuan. The raised money is used to cash the principal and interest of investors, pay operating expenses, loan and repay debts. After a lapse of 10 months, the trial results arrived as scheduled. Gu Guoping's fraud in fund-raising Where did the 10 billion yuan go? This may be closely related to the disillusioned dream of A-share capital. Gu Guoping was born in 1977 in Songjiang, Shanghai. It is understood that Gu Guoping saved his first pot of gold in his early years by helping people save machines (assemble computers) and selling computer accessories. In 2008, he founded Shanghai Feixun to produce and sell communication equipment such as switches, mobile phones and routers. In the following years, Shanghai Feixun developed rapidly. In 2014, its operating revenue was close to 10 billion yuan and its net profit was as high as 900 million yuan, gaining the reputation of "small Huawei". It was also in this year that Gu Guoping began to plan to incorporate Shanghai Feixun into Huiqiu technology, a listed company (later reorganized into the current "world show" by other capital), so as to realize backdoor listing and huge appreciation of wealth. In January 2016, Huiqiu technology disclosed that Gu Guoping had become the actual controller of the company, holding a total of 8.79% equity. In the same year, the share price of Huiqiu technology plummeted, resulting in Gu Guoping's asset management plan to use leverage to become the owner of the listed company. He had to sell part of his equity to another capital player in exchange for a total of 800 million yuan of life-saving funds. However, since then, the two sides have become enemies in order to seize the control of Huiqiu technology. Finally, the "1001 proposals" manipulated by Xian Yan detonated public opinion. Both of them lost and were both out. Gu Guoping was punished by the CSRC for banning him from the securities market for life. Gu Guoping once said in an interview that his failure in the capital market consumed all his chips at that time. "Almost everything has been sold out." Gu Guoping said that in 2016, he had sold a total of 2.8 billion yuan, including equity and real estate, to repay debts, and lost control of Shanghai Feixun. He also disclosed that by 2018, he had "not served as a director, supervisor or senior executive of Shanghai Feixun" and "only focused on the first-line products and R & D, and did not participate in other matters and processes related to management and decision-making". But Gu Guoping's capital ambition is not over. In November 2017, Shanghai Bingtong Investment Management Co., Ltd. (hereinafter referred to as "Shanghai Bingtong") listed company Lvting investment (now known as "* ST Lvting") was regarded by the market as Gu Guoping's one-time curve listing. In December of that year, the announcement information of Lvting investment showed that the capital source of the placard raising was composed of two parts: RMB 300 million borrowed from Shanghai Kangfei Information Technology Co., Ltd. (hereinafter referred to as "Shanghai Kangfei") and RMB 150 million financed through the margin account. For this placard, Lvting investment also received inquiries from the Shanghai Stock Exchange, which asked the company to "The media reports involve many subjects related to Shanghai Kangfei and Gu Guoping and many former Dong Jiangao of St Huiqiu, such as Gu Yunfeng, Gu Jianhua, pan Daming, Dong Xuelian, etc. all the above-mentioned natural persons have been punished by the CSRC, and Gu Guoping has been identified as prohibited from entering the securities market. Shanghai Bingtong and Shanghai Kangfei are requested to verify and disclose in detail. The relationship with the subjects and natural persons related to media reports, Gu Whether Guoping and the above-mentioned natural persons led the increase in holdings in a certain way. Both Shanghai Bingtong and Shanghai Kangfei said that Gu Guoping and the above natural persons did not lead the increase. However, the equity penetration information of qixinbao shows that Shanghai Kangfei is the grandson of Shanghai Feixun, and Gu Guoping and his "old subordinates" in Shanghai Feixun are the indirect shareholders of Shanghai Kangfei. By 2018, the P2P industry had exploded one after another, and Gu Guoping finally came to a "desperate situation" According to the previous police announcement, on June 21, 2018, Songjiang branch of Shanghai Municipal Public Security Bureau filed a case of Shanghai Lianbi Electronic Technology Co., Ltd. suspected of illegally absorbing public deposits according to reports from the public. Nong Jin, the designated representative of the judiciary, fled abroad in the early morning of June 20 and was arrested abroad in August of that year. Meanwhile, Gu Guoping and others were also arrested. "0 yuan purchase" trap The rise of "0 yuan purchase" activity of Feixun router almost coincides with the successive failures of Gu Guoping's asset management plan. Many investors speculate that Gu Guoping, on the one hand, gets rid of his relationship with Shanghai Feixun, on the other hand, uses "0 yuan purchase" to guide flow to P2P platforms such as Lianbi finance, and obtains investors' financial funds through the platform to form self financing. It is understood that at that time, some products sold by Shanghai Feixun on e-commerce platforms such as jd.com were labeled with "0 yuan purchase", and a series of K codes were printed on the bottom of each digital product labeled. After getting the K codes, users can activate in the "Lianbi finance" app, get back all shopping funds, and return all funds to the account of the "Lianbi finance" app. After this operation, the participants of "0 yuan purchase" have become the users of Lianbi finance. In addition, the "financial management" products provided by Lianbi finance are highly profitable, and many of them have become the investors of the platform. In addition to the marketing mode of "0 yuan cash back" + "high-yield financial management", in the view of many investors, another major factor attracting them to buy "financial management" products in Lianbi finance is the "invisible" endorsement of Shanghai Feixun and its state-owned assets behind it. From the perspective of shareholders, Shanghai Feixun and Lianbi finance are indeed closely linked. Gu Guoping, as the actual controller of Lianbi finance, holds 19.45% of the shares of Shanghai Feixun and is the second largest shareholder. Nong Jin, the legal representative of Lianbi finance, is also Gu Guoping's "old subordinate" in Shanghai Feixun. In his early years, he served as the general manager of the Southwest District of Shanghai Feixun sales center. In addition, the shareholders and directors of Shanghai Feixun high school have many figures of Songjiang state-owned assets. Qixinbao information shows that Shanghai Songjiang State-owned Assets Investment Management Group Co., Ltd. (hereinafter referred to as "Songjiang state investment") indirectly holds about 15% of the shares of Shanghai Feixun. Li Xuemin, the current legal representative of Shanghai Feixun, once served as the general manager of Songjiang state investment. (Xinhua News Agency)