“Official 2nd Generation” abused Zhengzhou police 70 million in the case of eight years has not been returned

After the "Second Generation of Officials" civil enterprises as the managers of illegal fundraising in Zhengzhou in Henan, the assets of more than 8,000 victims were treated as "own money": 70 million yuan in the case were abused to buy bad creditors, but the police were aware of the case.

Zhengzhou Public Security Bureau of China Water Department in charge of handling the case of "Chinese Jewelry".

In 2018, Zhengzhou involved 8546 households and the unrefunded amount of more than 7.8 billion yuan of illegal fundraising case "Chinese gold jewelry" entered the asset clearance phase. all the assets involved in the case were entrusted to a private enterprise

• Goldstone investment "management".

Who knows, this company real-control person (whose father served as secretary of the Hanoi province's new-country municipal committee) transferred a huge amount of money involved in the case, used as the first payment of Hainan's bad creditors held in the East assets, has not been returned to date.

and 01

The assets of illegal fundraising cases are handed over by the “official second generation” civil enterprises

In 2018, a large illegal fundraising case entered the asset clearance phase in Zhengzhou.The enterprise involved in the case, Henan Zhen Zhen Jewelry Co., Ltd. (hereinafter referred to as "Zhen Zhen Jewelry") has been investigated by the public security organs.

At the time, there were still 8546 participant funds not liquidated, and the amount not liquidated exceeded 7.8 billion yuan.

In accordance with the provisions on the handling of illegal fundraising risk in Zhengzhou, with the approval of the government of Zhengzhou's Zhejiang Water District, Henan Goldstone Investment Management Co. Ltd (hereinafter referred to as "Goldstone Investment") is entrusted by the Zhejiang Jewelry Case Disposal Working Group to serve as the "manager" of the illegal fundraising case, and the Zhejiang Jewelry Case Disposal Working Group is responsible for supervision.

The responsibilities of Goldstone Investment are to verify the funds, manage the assets involved, dispose of the deposits, and prepare and participate in the implementation of the fundraising liquidation plan.

After China's gold jewelry was taken over, its office building became the customer service center for Goldstone investment. On the outer wall there is an executive announcement posted by the Goldwater Court in April this year.

In other words, the company does not control ordinary commercial funds, but assets directly related to thousands of illegal fundraising victims’ pursuit of compensation.

Since then, Goldstone Investment has built a set of asset holding structures: its agency, Zhengzhou Zhejiang to Zhejiang Enterprise Management Consulting Co., Ltd, is established by the company as the holding of all assets of Zhejiang Jewelry. The relevant "Communication" emphasizes in particular: "The company's assets are all asset holders of Zhejiang Jewelry."

According to the disposal scheme, these assets should be disposed of by way of sale, liquidation, development, or real estate exchange, with only one ultimate goal – to minimize the losses of the fundraising participant as much as possible.

2nd *

70 million euros in cases involving fraud

What happens next goes far beyond normal asset management.

In the aftermath, Qing Xiaoping abused about 70 million yuan of the funds involved in the case, and invested the money in another commercial transaction

• the acquisition of the huge bad credit of Hainan held by China Eastern Asset Management Co., Ltd. (hereinafter referred to as "Eastern Assets").

One of the core employees of Oriental Assets said that on December 18, 2017, Oriental Assets was assigned two credits from Berry Trust Limited Liability Company, and the debtor was involved in the development of the Lohua High Company Limited and Hainan Lohua Hotel Management Limited, respectively. Yang is the guarantor of these two credits.

After obtaining the credit, the Eastern assets, on the one hand, to the Zhengzhou Railway Transportation Intermediate Court to apply for the implementation of the relevant mortgage, on the other hand, is prepared to continue to dispose of the amount of credit.

In Hainan Province, the Pearl Building A and B buildings of Luhan Water County Pearl Buildings used 70 million yuan in bad credit to purchase the funds involved.

Subsequently, Zhengzhou Lean to Lean Enterprise Management Consulting Limited (hereinafter referred to as "Lean to Lean Company") entered the transaction. According to the statement of the East Asset Staff, Lean to Lean Company through the public auction, at the price of about 500 million yuan competed for the aforementioned credit.

On May 21, 2018, Eastern Assets and Belt to Rhythm Company signed the “Asset Transfer Agreement”.The contract agreed that Belt to Rhythm Company first paid the first payment of 150 million yuan, the remaining price is paid within two years; the part that has not yet been paid, is paid by the annual interest rate of 15% to the Eastern assets.

But the contract fulfillment soon appeared to be abnormal.Eastern Asset staff said that the actual cash paid by the company was not the promised 150 million yuan, but only 70 million yuan.

The agency of the relevant cases said that the real controller of the company is equally strong.Korjiang, through the real control of gold stone investment as the managing officer of the Chinese gold jewelry case, transferred approximately 70 million yuan of the gold jewelry case funds, and then used in the purchase of the Eastern assets of the first payment of the above claims.

With the continuous advancement of the follow-up transaction arrangements between Eastern assets and Eastern companies, the debt relationship between the two parties has also changed, and Eastern companies instead enjoy a creditor's right to Eastern assets.

In 2024, the Zhengzhou Water District Court issued a “Aid Execution Notice” to the Eastern Assets. The notification involved the illegal absorption of public deposits by Zhengzhou Jewelry real controller Song Weng Kai. In the notification, the court said that the “(2020) Zhou 0105 Preliminary Penalty No. 323” criminal verdict had come into effect. Due to the failure of Song Weng Kai to fulfill the obligations determined by the effective legal document, the court transferred the case for enforcement.

Subsequently, the court made a crucial judgment on this creditor’s benefit.

The notification clearly states: "The creditors' rights to the Chinese East Asset Management Co., Ltd. against the Chinese East Asset Management Co., Ltd. subdivision of the province of Henan Company (2024) and the civil judgment No. 8992 of Zhu 01 of the People's Republic of China in this case shall be suspended."

The court therefore requested the freezing of the bond’s holdings in the Eastern assets for a three-year period, from November 15, 2024 to November 14, 2027.

In other words, the court ruled that the company had "taken" the amount involved in the case of illegally absorbing public deposits with its unrelated gold jewelry.

As an illegal fundraising case manager commissioned by the Government Working Group, under what authorization will the funds directly related to the rights and interests of thousands of fundraising participants be used to buy Hainan's bad creditorship?

and 03

Misuse of the case for eight years, police delayed not to file the case

The worst thing will follow.

The transaction relationship between the two sides changed after the company failed to continue to fulfil the contract with the Eastern Assets. Eastern Assets staff said that on December 27, 2019, Eastern Assets and Eastern Assets signed a Supplementary Agreement.

In accordance with the agreement, Goodyear agreed to transfer the relevant credit rights from Eastern assets again.The new credit transfer price was first used to safeguard the earnings of Eastern assets, and the remainder would be owned by Goodyear.

Subsequently, the creditorship was once again auctioned publicly.This time the buyer was Shaanxi Commercial Operations Management Limited (hereinafter referred to as "Shaanxi Company").

Eastern assets staff said that a company in Shaanxi competed for the relevant credit for $4.2 billion.Then, after several rounds of transactions, another company, which is actually controlled by Qingxiang, Beijing Huang Qingxiang Investment Co., Ltd., also formed a credit to a company in Shaanxi.

The registered place of gold stone investment, the company's brand name has now been removed, but there is still another company under the name of Mercury in this office (the above picture, Liu Xiaobo) and several affiliated companies such as Liu Xiaobo have previously worked here.

The aforementioned informed agents said that the Sino Jewelry Asset Disposal Working Group later discovered that 70 million yuan of funds were in trouble, and the pursuit pressure increased.But it is strange that the Zhengzhou Public Security Bureau has not taken any measures against Zhengzhou so far, and has not filed a case to investigate the abuse of this "second generation of officials", but instead found the owner of a company in Shaanxi, trying to make the owner of the Sino enterprise, who had a debt dispute with the company of Zhengzhou, funds to fill the hole left by the money that was abused.

"Chongqing police ran to Xi'an and threatened this boss, which meant that he would take this money out of the pit, otherwise the Chongqing police would engage him."

Later, a recording of a phone call lasting about 10 minutes further revealed some details of the incident. One was the owner of a company in Shaanxi, and the other was a police officer named Fong who handled the “illegal funding case” of Shaanxi Jewelry.

When the owner of a company in Shaanxi asked, "Did you tell your leader about this?"

The police officer replied, “I said, I said.”

When the owner of a company in Shaanxi said that Fong police officer was the contact person of the work of the disposal of Zingam Jewelry, Fong police officer did not deny that he had participated in the case, but stressed: "The contact person of the masses was me, I was the runner-up to work."

Then, the two sides talked about the agreement between Goldstone Investment and the Working Group. The owner of a company in Shaanxi asked: “I tell you... you have signed an agreement, right?”

The police officer replied, “I know this agreement ... it was their goldstone and the workgroup signed, this is, in my opinion, an agreement with the workgroup.”

The owner of a company in Shaanxi constantly asked Feng the police officer: since the public security organs have known that Qiang will use the funds involved in the case for his own projects, why is it late to not deal with it?

"I don't believe that Mr. Zhang has wasted so much money, given to his own projects, you have been checked so clearly on the public security, and I don't believe he has no results."

The police officer replied, “This thing will have a result.” but he then explained, “If he really abuses enough, he should be accountable for the investigation.”

The owner of a company in Shaanxi does not accept this, why don't you catch people?" the police officer said again that the alleged abuse "needs quality" and should be handled by the detective department.

In the phone, the owner of a company in Shaanxi also asked the police officer why he had previously been to Shaanxi to threaten him, and even called it a "violation of police."

Fong police officer has repeatedly stressed in the call that he is just the ordinary civilian police, "leading what I do, what I do," as to the level of leadership is not clear.

Before the call ended, he said again: "I should report to our leadership and I have also, that is, look at this place and the court and this working group on our side, see how they negotiate to deal with."

From the content presented in this recording, the public security organs are fully aware of the issue of the illegal use of 70 million yuan of gold jewelry involved in the case.

The initial solution to the Qigong jewelry case was the loss of 8546 crowdfunding participants. The clearing plan for 2018 has made it clear that all the assets of Qigong jewelry are held by the newly established company and belong to all crowdfunding participants. The responsibility of managers should have been to check the funds, manage and dispose of assets for these crowdfunding participants, to recover the losses as much as possible, rather than to make these assets the foundation for another business investment.

So why did the public security organs delay in filing a criminal case?

This may have to do with the strong background of Kim Jong-un.The information shows that his father, Wu Wen-long, served as secretary of the New Country Municipal Committee from 1997 to December 2001; his brother, Wu-Kong, worked in the industrial and commercial department of the province of Henan, and his brother, Wu-Hin, worked in the customs office of Zhengzhou.

The developments continue to be concerned.

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