Behind the carrot chapter deceived 30 billion: Noah Fortune uses Jingdong as a shield?

This article is synthesized from media reports such as Jiemian News (reporter: Zhang Xiaoyun) and Beijing Business Daily

On November 27th, the topic of #Keliang Radish Chapter deceived 30 billion # rushed to the hot search, and the once sensational "Chengxing Department" fraud case extended to new branches.

Tianyancha APP shows that on November 24, Shanghai Gopher Asset Management Co., Ltd., a subsidiary of Noah Wealth Holdings, filed a lawsuit against Chengxing and Jingdong in the Shanghai Financial Court.

Gopher Asset demanded that JD.com, Chengxing Holdings, Zhongcheng Industry, Suzhou Shengjun and other companies repay all the losses of more than 3.5 billion yuan that were determined in the "Chengxing system" criminal case.

Guangdong Zhongcheng Industry Holdings Co., Ltd. and Suzhou Shengjun Marketing Management Co., Ltd. are both served by Luo Jing as the legal representative and executive director, and Guangdong Chengxing Holding Group Co., Ltd. is chaired by Luo Jing, of which Guangdong Zhongcheng Industry Holdings Co., Ltd. has been revoked in July 2023.

According to public information, Luo Jing, born in 1971, is a native of Hong Kong, China, and as a member of the Mulan Hui, a club of domestic business women leaders, Luo Jing was once known as "Mulan in the business world". She owns three listed companies: A-share Boxin (600083.SH, now renamed *ST Boxin), Hong Kong-listed Chengxing International Holdings (2662.HK, now renamed "Good Development") and Singapore's main board CamsingHealthcare (BAC).

Looking back on the whole fraud case, it can be described as "four fakes", that is, fake reception, fake contract, fake official seal, and fake contract. In addition to a variety of contract fraud methods, Fang, as the key person of Noah's wealth, "skillfully cooperated" with Luo Jing and Luo Lan, and became the "ghost" of financial institutions.

In July 2019, Noah Fortune first broke out 3.4 billion yuan to step on Lei Chengxing International, which caused an uproar in the capital market for a while, and then more and more financial institutions were affected like a "snowball", Xiangcai Securities, "Zhongzhi" Moshan Factoring, and Yunnan Trust were all involved.

According to the prosecution's allegations, from February 2015 to June 2019, "Chengxing" companies such as Guangzhou Chengxing, Guangdong Chengxing Holdings, and Guangdong Kang'an Trading Company, which were actually controlled by Luo Jing, successively carried out supply chain trade with Suning Tesco Group Company and Jingdong Company, and Chengxing Company advanced funds to carry out procurement business for Suning and Jingdong Company.

The criminal verdict of the Shanghai No. 2 Intermediate People's Court pointed out that under the arrangement and operation of the defendant Luo Jing and others, the Chengxing Company used its supply chain trade background with Jingdong Company and Suning Company, and Luo Lan (Luo Jing's sister) privately engraved the seals of Jingdong Company and Suning Company, and Liang Zhibin and others of the defendant Chengxing Company provided forged purchase and sale contracts and other materials required for financing, fabricated accounts receivable, and successively cooperated with Xiangcai Securities, Moshan Factoring, Gopher Assets (a subsidiary of Noah Wealth), Yunnan Trust, Anhui Zhongxin and other victim units signed contracts such as accounts receivable transfer and repurchase agreements to defraud these units of financing.

As of the time of the case, the victim units had been defrauded of a total of more than 300 billion yuan, and the actual loss was more than 8.8 billion yuan, of which Shanghai Gopher lost more than 3.4 billion yuan, Xiangcai Securities lost more than 900 million yuan, Moshan Factoring lost more than 2.7 billion yuan, Yunnan Trust lost more than 1.5 billion yuan, and Anhui Zhongxin lost 99 million yuan.

In November 2022, Luo Jing, the actual controller of the "Chengxing Department", was sentenced to life imprisonment in the first instance for contract fraud and bribery to non-state employees, and his sister Luo Lan and several employees of the actual control company were involved in the sentence. At present, Luo Jing's criminal case is still in the second instance, and the aforementioned judgment has not yet taken effect.

After the thunderstorm, Noah Fortune provided a settlement plan to investors who purchased the product, and on the other hand, chose to launch a lawsuit against Chengxing and JD.com, that is, the trial held in the Shanghai Financial Court on November 24.

The criminal verdict in the Chengxing case confirmed that through seal identification, video retrieval and multiple confessions, Jingdong Company and Suning Company did not sign the underlying purchase and sale contract involved in the case with the Chengxing Company, but that the "Chengxing Company" personnel fabricated the receivables claims of the two companies by forging seals and related purchase and sale contracts and other underlying materials, and used this to deceive the victim units into financing cooperation.

In addition, JD.com never received the 21 Accounts Receivable Confirmation Letters used by Chengxing Company to finance Gopher's assets, nor did it affix its seal to the receipt column, and the relevant Purchase Contract was not the contract number of JD.com. The seal of "Jingdong Company's special contract seal" on part of the "Receipt of Notification Confirmation Letter" and 59 "Confirmation Letter of Accounts Receivable Transfer (Receipt)" of the inspection and appraisal agency and the seal with the same name on the sample provided by JD for comparison are not formed by the same seal.

According to the description of the judgment, in the process of Chengxing's fraud, no staff of JD.com and other companies participated in or knew about it, and the frauds related to JD.com were also completed by Chengxing's personnel by forging work cards, fraudulently using identities, using couriers, etc., with the cooperation of Fang, senior deputy director of Gopher's asset team.

According to the criminal verdict of Fang, the "key person" of Noah's wealth, obtained by Jiemian News:

Since June 2015, Mr. Fang has successively served as the investment banking manager, senior investment banking manager, senior deputy director of the team, and senior deputy director of the team of Noah Zhengxing Fund Sales Co., Ltd. (hereinafter referred to as Noah Zhengxing), and his job responsibilities are to engage in team management and product selection and development.

Since September 2016, Shanghai Gopher, Zhongcheng Company and Chengxing Company have carried out accounts receivable debt transfer and repurchase financing business. Defendant Fang was assigned by Noah Zhengxing to participate in the above-mentioned business of Gopher Company, Zhongcheng Company and Chengxing Company. In order to expand the scale of financing and speed up the progress of financing business, Luo Jing, the actual operator of Zhongcheng Company and Chengxing Company, instructed employee Luo Lan to pay bribes to Fang many times.

Fang took advantage of his position to participate in the establishment of the business and promote the establishment of the business, and illegally accepted bribes totaling more than 300 Hong Kong dollars, equivalent to more than 200 yuan, from Luo Lan many times. On June 21, 2019, Fang surrendered to the Yangpu Branch of the Shanghai Municipal Public Security Bureau. In July of the same year, Fang withdrew 1.41 million yuan of stolen money.

In response to Noah Fortune's claim against JD.com, a number of legal professionals said that Noah Fortune's debt collection from JD.com is not optimistic. First, because the first-instance criminal case of Luo Jing, the actual controller of the "Chengxing Department", has clearly determined that the relevant contract seals are forged, and the employees of JD.com are also played by the employees of the "Chengxing Department". The second is that Noah Fortune has employees who "cooperate inside and outside".

A number of investors who bought Noah's wealth-related products also told Jiemian News that they were very incomprehensible about Noah's behavior of suing JD.com. Some investors believe that Noah is "using JD.com as a shield to appease people and delay time", "the results of the criminal trial have been released, JD.com is not involved in the verdict at all, and the civil lawsuit is just an excuse and meaningless." ”