Hangzhou reported the Yuantai Financial Services case: 10 main suspects were arrested

Hangzhou reported the latest progress of the Yuantai Financial Services case 10 major suspects were arrested

The "red notice" procedures for the 4 main suspects are being processed

■ Reporter Yu Deliang

On December 15, the Hangzhou Municipal Public Security Bureau's High-tech Zone (Binjiang) Branch once again notified Qilan Holding Group Co., Ltd. (the "Yuantai Financial Services" platform) through the official WeChat of the progress of the case of suspected illegal absorption of public deposits.

The circular shows that at present, the Hangzhou Public Security Bureau has taken criminal compulsory measures against 22 people involved in the case, of which 10 major criminal suspects have been approved for arrest according to law. The "red notice" formalities of the main suspects Wang Lin, Chen Yan, Xu Yuanyuan, and Ye Xiangjing are still being handled step by step, and at the same time, the public security organs have adopted various measures such as issuing reward notices to force overseas fugitives to arrive at the case as soon as possible.

At present, the Hangzhou police have seized 31 real estates under the names of the companies involved in the case and the people involved in the case, seized 24 cars and 12 motorcycles under the names of the companies involved in the case and the people involved in the case, and frozen more than 43 million yuan of funds, 73 equity companies and 2 stock accounts under the names of the companies involved in the case and the people involved in the case.

It is understood that the Hangzhou police reported the progress of the Yuantai Financial Services case on November 16, 2018. Ren Moufeng, a former senior executive of Yuantai Financial Services, has been taken criminal compulsory measures in accordance with the law. Criminal coercive measures were taken against 22 persons involved in the case, of which 10 of the main suspects had been arrested in accordance with law. The main suspect of Yuantai Financial Services, Wang Mou, "red notice" procedures are handled step by step. The police have seized 31 real estate properties under the names of the companies involved in the case and the people involved in the case, seized 23 cars and 12 motorcycles under the names of the companies involved in the case and the people involved in the case, and frozen more than 29 million yuan of funds, 51 equity companies and 2 stock accounts under the names of the companies and people involved in the case. At present, 39 companies and individuals involved in the case have been investigated, and a team of professional lawyers and auditors has been hired to audit the financial status of the relevant industrial companies.

Zhejiang Yuantai Internet Financial Information Service Co., Ltd. (hereinafter referred to as "Yuantai Financial Services") was established in August 2015 with a registered capital of 100 million yuan and was officially launched on April 13, 2016. For the origin of the name of Yuantai Financial Services, the company introduced, "Yuan", from the "I Ching" Qiangua, meaning beginning, the growth of benevolence; "Tai" is from the "I Ching" Tai Gua, which has the meaning of support and stability. Yuantai Financial Services has always been the mission to help every small and micro individual achieve financial freedom.

On November 8, 2017, Yuantai Financial Services publicly claimed that it officially passed the national "information system security grade protection" test, and obtained the approval of the Ministry of Public Security to issue the national information security grade protection level protection level three certification, and the security standard reached the highest rating of the national non-banking institution.

In July 2018, Yuantai Financial Services was exposed by investors and ran away. According to the data on the official website of Yuantai Financial Services, as of June 30, 2018, the cumulative loan amount of the platform was 332.617 million yuan, the cumulative number of loans was 13357, and the total number of accumulated lenders was 3008. The amount of repayment of the top ten borrowers accounts for 42.11%, and the concentration of borrowing of the top ten borrowers is obviously an important factor in the platform explosion. The legal representative of Yuantai Financial Services is Wang Lin, a company under the line of Yuantai Financial Services, Qilan Holdings, whose full name is Hangzhou Qilan Investment Co., Ltd., which is also a company controlled by Wang Lin.

The latest notice of the Hangzhou Municipal Public Security Bureau High-tech Zone (Binjiang) Branch reminds that investors can register through the "Police Uncle" APP of the Hangzhou Municipal Public Security Bureau or the "Online Lending Platform Investor Registration" function in the "Micro Policing" section of the Hangzhou Public Security WeChat Public Account, and the organizer is the Investigation Brigade of the High-tech Zone (Binjiang) Branch of the Hangzhou Municipal Public Security Bureau.

(Editor-in-Charge: Zhao Yazhi)