[straight news network Beijing on March 1 hearing, Yangcheng Evening News) 29 February 2016, Guangzhou City Intermediate People's Court of morning of involved nearly 10 billion yuan, so far China's largest "Guangdong state companies" fund-raising fraud 24 people made first instance verdict. Jiang Hongwei et al in court to hear the sentence.

Guangzhou City Intermediate People's court this morning on involved nearly 10 billion yuan, so far China's largest "Guangdong state companies" fund-raising fraud 24 people make verdicts, which the defendant Jiang Hongwei has been identified as the main culprit, is to fund-raising fraud sentenced to imprisonment. This is the National People's Congress last year through the criminal law amendment (nine) the maximum penalty provisions of the crime of financial fraud after the abolition of the death penalty.

Jiang Hongwei was born on April 1971 in Jilin city of Jilin Province, college education. The court found, Jiang Hongwei from December 2002 to August 2010, in Guangzhou has incorporated Guangdong state companies, four companies, and one after another in 16 provinces, municipalities directly under the central government shall set up 64 branches and 24 subsidiaries. Jiang Hongwei et al to the company, such as automobiles, real lease, health care products and organic food sales business as a cover, in government funding of administrative license without obtaining a by selling membership of consumption, regional cooperation and the renminbi loans and the national norm confining within public of illegal fund-raising.

The identification of judicial accounting, Guangdong state companies and other four companies in the period from December 2002 to May 2012, the illegal fund-raising amount is 9953044200 yuan, the number of victims of the public up to more than 23 people.

The illegal fund-raising according to Jiang Hongwei instructions into Jiang Hongwei's personal account and private account designated by the use of Jiang Hongwei, control and transfer. Funds except for the production and operation activities of the Guangdong state companies and other related company business project, Jiang Hongwei et al is to expand the scale of illegal fund-raising, will raise money the defendant company employee bonuses and performance deduct a percentage from a sum of money for a total of 55206.43 million yuan, participate in fund-raising social public principal and interest due to pay a total of 802939 yuan, thus making public funds get high returns false, to further absorb public funds for the purpose. In addition, in the case of partial funds Jiang Hongwei cannot account for the whereabouts of funds, the company's books recorded not clear, whereabouts unknown, resulting in social public huge funds cannot be returned.

The court held that the defendant Jiang Hongwei 7 people for the purpose of illegal possession, use the method of fraud crime of fraud, a huge amount of financial fraud. Defendant Wen Feng Zhou, 17 people in the instigation of CO Jiang Hongwei, in violation of the relevant provisions of the state, disguised absorbing public deposits, disrupting the financial order, a huge amount or if the circumstances are serious enough to constitute a crime of illegal absorbing public deposits. Court also found that Jiang Hongwei in common crime play a major role, is the principal, shall, in accordance with the participation or organization, command of all criminal penalties.

The court of first instance shall Jiang Hongwei committed crime of fraud and sentenced to life imprisonment and confiscation of all personal property; the remaining 23 people were illegal absorbing public deposits or the crime of fund-raising fraud sentenced to imprisonment 3 years of probation 4 years to imprisonment 14 year range, and impose appropriate penalties; the court also ruled that the illegal income and property according to the proportion of reimbursement for each victim.

Earlier, at the end of 2014, the Guangzhou intermediate people's Court on the case of Wang Minquan, Zhang Yan and other 4 people to make a judgment. Wang Minquan, Metcalf JV is Guangdong Province Higher People's Court of final appeal identified as the culprit, with financial fraud crime were sentenced to 14 years, 7 years, punish gold 40 million yuan, 10 million yuan.

Guangzhou prosecutors introduced, the fund-raising fraud cause of action of public security department to supervise the handling, so far with the largest scale and the amount involved is highest, and that of the victim and the masses most financial crimes, involving 28 defendants, the 88 companies, files and materials of more than 8000 copies.

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