Liu Qiangdong: People sit at home, and the pot comes from the sky

If one day you were suddenly approached by a stranger and said that you owe him a large sum of money to pay back, would you think it was ridiculous?

However, such a ridiculous thing really happened to JD.com, and the amount of "arrears" that popped up out of thin air was as high as 3.5 billion, which made JD.com's people confused.

On November 24, the well-known professional financial institution "Noah Wealth" sued JD.com, demanding that JD.com and the "Chengxing" company compensate it for losses of more than 3.5 billion yuan. Some investors pointed out that Jingdong was actually cheated by this "Chengxing system", and JD was not the only one who was pitted, and the total amount involved was as much as 30 billion!

So, how did this huge amount of money come to the heads of JD.com and other companies? It all started with a big case many years ago.

The initiator of this farce is Luo Jing, the founder of the "Chengxing Department" company. Luo Jing started her career in the IP licensing business in her early years, and IP such as Tusky, Transformers, and Kung Fu Panda were turned over by her, and she made a lot of profits and created two listed companies.

Luo Jing

However, with the company's poor performance and the rupture of the capital chain, Luo Jing urgently needed a sum of money to fill the hole, and it would be better if there was any remaining money to invest. So where to find so much money in a short period of time? Luo Jing thought of a clever plan of "empty gloves white wolf".

It turns out that Chengxing has a business to do supply chain finance, the general model is that Chengxing supplies to Jingdong, Suning, China Mobile and other companies, because these enterprises have a greater right to speak, the Chengxing system has greater cash flow pressure, so the Chengxing system will package the corporate receivables into related financial products issued on the financial platform.

In layman's terms, Chengxing advanced money to help Jingdong and Suning purchase goods, which resulted in an arrears, that is, receivables. Then Chengxing took the "IOUs" of Jingdong and Suning as collateral to borrow from banks or financial institutions to earn an interest difference.

And Luo Jing's genius idea is to create a fake "IOU", that is, to make up a receivable and sell a "blank check" to cash out.

If you want to create a fake "IOU", you must make others believe that this IOU is the other party's company, so Luo Jing's first step is to engrave two fake seals, one Jingdong and one Suning, and then use the fake seal to stamp the fake contract, and the fake "IOU" is created.

The second step is to find a "wronged leader" who is willing to take over. Generally speaking, banks have rich experience in screening various scams, so it is definitely difficult to deceive, and they can only find non-bank financial institutions.

At this time, Luo Jing's strong connections came into play. In the early years, Luo Jing joined a business women's club called "Mulan Hui", in which elite women such as Dong Mingzhu and He Qiaoyun were among them. It was here that Luo Jing got acquainted with Wang Jingbo, the president of Noah Wealth.

The upper left is Wang Jingbo

Noah Wealth is the first independent wealth management institution listed in the United States in Chinese mainland, covering wealth management, asset management, and receivables management. For Luo Jing, Noah is the most suitable "buyer".

Of course, Wang Jingbo is also an old man who has been walking for many years, and it is impossible to speak only by relying on connections, and the risk control work must be done well. Everything pays attention to a process, Luo Jing's "IOU" is true or false, send someone to Jingdong to investigate, don't you know?

So, Luo Jing's next step was to arrange for someone to hang up JD.com's fake badge and connect with the Noah employees who came to the back, and then walked and chatted in the JD headquarters, so that they could believe it.

Since it was fake, it was necessary to make a full set, and then Luo Jing rented a server, made a fake database, and forged a Jingdong supplier system platform, the interface is exactly the same, the receivables and account period are very clear, and if you don't look carefully, you can't see that it's fake.

What's even more ruthless is that when Noah sent a letter to JD.com to confirm the authenticity of this matter, Russell actually sent someone to JD.com to intercept the courier, reply and stamp a fake seal. At this point, the people on Noah's side had to believe it.

To say that Luo Jing is really leaky in doing things, she knows very well that if only her own side acts unilaterally, sooner or later she will show her feet, after all, Noah's actions are not controlled, what if she pays a return visit to Jingdong from time to time? So next, Luo Jing bribed Fang Jianhua, the staff member who was responsible for Noah's docking with her, more than 2 million yuan to ensure that nothing went wrong.

Judgment of Shanghai No. 2 Intermediate People's Court

After such an operation, Luo Jing defrauded more than 10 billion funds from Noah. Luo Jing, who tasted the sweetness, was not satisfied with this, and concocted the same method, defrauding several other non-bank financial institutions one after another, with a total amount of more than 30 billion.

Some people may ask, Luo Jing is so shrewd, doesn't she know that this money will have to be repaid one day?

In fact, Luo Jing's ultimate goal is not to "cheat" money, but to use the money to invest, and then return the 30 billion when she makes money. has a principal of 30 billion, isn't it easy to make money?

However, Luo Jing still miscalculated after all, she chose a high-risk investment method - stock speculation, and it is also A shares. After taking a stake in a listed company, the stock price fell wildly, losing more than a billion yuan every year.

Three years later, in July 2019, Luo Jingdong was arrested and imprisoned, and the stock price of Chengxing Company also plummeted by 90%. As for the 30 billion arrears, even if she smashed the pot and sold iron, she didn't pay it off, and there was still 8.8 billion left.

In August 2020, Luo Jing was sentenced to life imprisonment and fined 20.1 million yuan for contract fraud and bribery of non-state workers. Who would have thought that Luo Jing, who carefully set up such a big scam, would end up falling on A-shares.

Judgment of Shanghai No. 2 Intermediate People's Court

Luo Jing's case is over, but Noah's account has not yet been settled, and of the 10 billion deceived by Luo Jing, 3.5 billion has not been recovered. Noah, who had nothing to do, simply didn't do anything and took JD.com to court, so the scene at the beginning of the article appeared.

People sit at home, and pots come from heaven. Jingdong didn't get involved in this matter during the whole process, but the scammer pretended to use the name of Jingdong, so did he want Jingdong to take the blame? This is not realistic in both sense and reason. Some legal professionals pointed out that it is difficult for Noah Fortune's debt claim against JD.com to be established, and Luo Jing's behavior of pretending to be an employee of JD.com and carving a fake seal to seal in the "Confirmation Letter of Accounts Receivable Transfer" is not the legal basis for Luo Jing's company to have a contractual relationship with Gopher and other companies.

According to Article 546 of the Civil Code of the People's Republic of China, "if a creditor assigns a creditor's right without notifying the debtor, the assignment shall not be effective against the debtor". That is to say, it is sufficient to notify the debtor of the assignment of creditor's rights, and whether or not to "seal" in the "Confirmation Letter of Assignment of Accounts Receivable" does not affect the establishment of the relationship between Luo Jing and Noah's creditor's rights transfer.

Obviously, JD.com is not the subject of a contractual relationship with it, and there is no "agency" or "representation", so it may be difficult for Noah's claim to be supported by the court.

In fact, in recent years, Noah Fortune has continuously stepped on projects such as Lei Huishan Dairy, LeTV, Baofeng Group, Douyu, etc., and every time they step on thunder, they have also caused huge losses to relevant investors. Rather than diverting the contradiction outward, perhaps it is more important to find a solution from within.

Author | The wind is clear