In the absence of securities business qualifications, a criminal gang engaged in the promotion and distribution of "New Third Board" stocks, and induced many citizens to buy designated stocks by means of group sharing and "live teaching", resulting in citizens being deceived.
Recently, the Jing'an District People's Procuratorate prosecuted 16 defendants of this criminal gang, including Zou, Yu, and Huang, on suspicion of illegal business operation in accordance with the law.
In this case, the Jing'an District People's Procuratorate guided the whole process of handling the case with data thinking, analyzed the gang's online multi-channel drainage and sales behavior, and used big data to penetrate the path of equity change and lock the criminal facts of the upstream shareholder.
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Join a group chat and trust the "analysts" to fall into the trap
In October 2022, Mr. Wang, a senior shareholder, left his contact information when he downloaded the software related to the "New Third Board", and it didn't take long to receive a call from the "platform staff". Subsequently, Mr. Wang was invited by the other party to join a chat group, in which three stock analysts shared their experience in stock trading and conducted live lectures. Although there are no real people in the lectures, each class has a PPT and the latest stock trend chart. In a live broadcast, analysts revealed that the "New Third Board" is promising. Under the guidance of the salesman, Mr. Wang opened an account on the "New Third Board", and then "waited for news".
In November 2022, the salesman called Mr. Wang and told him to buy 170,000 shares of a specific stock at a price of 5.9 yuan, and Mr. Wang spent millions of yuan to complete the purchase. In the following three months, Mr. Wang did not wait for the news of the transfer of stocks, but lost more than 240,000 yuan. Another citizen, Mr. Feng, was in the same situation.
In February 2023, the public security organs arrested the gang involved. After investigation, the gang used Company Z, which distributes liquor, as a disguise, to engage in the promotion and distribution of "New Third Board" stocks without securities business qualifications, so as to earn commissions. Zou is responsible for the day-to-day management of Company Z, with an analysis department and a business department. There are a number of salesmen in the business department, who are responsible for making phone calls to attract customers to join the group chat, and fabricating lies that the company is a large stock software cooperative organization and that the group will provide accurate stock information;
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Data is fixed, and big data analysis locks down suspects
After the case was discovered, the financial prosecution team of the Jing'an District People's Procuratorate immediately intervened in advance to participate in the preliminary investigation of the case, and discussed the direction of evidence collection with the public security organs.
Zhu Hairong, head of the financial prosecution case-handling team, proposed
The case involves the "New Third Board" stocks, and the collection of evidence should put the fixation of business data in the first place, and the data traces should be collected and fixed as comprehensively as possible, and more clues should be excavated in pursuit of upstream crimes.
The prosecutor found that in order to avoid investigation, Zou Mou, the person in charge of Company Z, and others distributed the company's income and monthly bonuses in cash. According to the electronic data stored in the on-site seizure equipment and the traceability of the recorded flow of funds, Yu, another behind-the-scenes boss of Company Z, gradually surfaced. According to the flow of funds and the confessions of many salesmen and analysts, Yu and Zou are jointly responsible for the "operation" of the company, mainly responsible for docking with upstream stock holders, and agreeing on the specific transaction time, amount and share.
Prosecutors Zhang Dongying and Yang Xiaofei conducted big data analysis on the details of Yu's bank account fund transactions, screened out a list of larger capital transactions, and then retrieved the transaction records of the stocks involved in the case, extracted the historical holders of the stocks, and collided the data of the above two lists, and found that Huang was not only the historical holder of the stocks, but also had multiple large transfers to Yu in his private account. According to the new third board trading rules, all transactions should be completed in the national small and medium-sized enterprise share transfer system, and share transfer is not allowed through private transfers.
Through the follow-up investigation and data analysis of this key clue, the prosecutor found that Huang received a large number of shares from the original shareholders of the stocks involved in the case, and then raised the stock price by "turning the left hand into the right hand", and then solicited investors to undertake it through the sales company controlled by Yu, and shared it by both parties after the sale. On March 21, 2023, the procuratorate issued a letter of prosecution to the public security organs based on the above clues. On August 14 of the same year, Huang was arrested on suspicion of illegal business operation.
At the same time, Zhu Hairong, head of the financial prosecution and case handling team, took the lead in optimizing the big data case handling method by starting from the database of stock transaction records. After obtaining more than 900 transaction records and the information of more than 80 historical holders of a stock involved in the case since its listing, the prosecutor carried out information analysis on the transaction time node, amount of funds, counterparties and other information on a number of suspicious persons who carried out high-frequency transactions, and finally, Liu entered the prosecutor's field of vision.
The case-handling personnel also made a new discovery: Liu actually had Cui behind him to guide the whole process, and the actions of the two were instructed by Zhao who was hiding behind the scenes. Because until the case occurred, Liu and the other three had not shared the illegal gains, so there was no relevant fund transfer record, the prosecutor promptly adjusted the case-handling ideas, starting with the stock transaction records, etc., locked the criminal facts of the three people's illegal operation of the new third board stock business, and issued a letter of prosecution to Liu, Cui, Zhao and other three people.
After investigation, Company Z successively recommended four NEEQ stocks, and the total amount of relevant stocks purchased by customers was more than RMB 22.09 million, and then Company Z received more than RMB 5.88 million of return funds from relevant stock holders through the bank accounts of Yu and others. Huang illegally sold shares through Company Z totaling more than RMB 10 million. The person in charge and employees of Company Z, Huang, Liu and other intermediate shareholders all constituted the crime of illegal business operation.
Recently, the Jing'an District People's Court sentenced 15 of the defendants to fixed-term imprisonment ranging from five years and three months to five months of criminal detention and five months of probation for the crime of illegal business operation, and fines, and the remaining cases are being further tried.
The prosecutor of the Jing'an District People's Procuratorate reminded the public that when making financial investments, they should resolutely resist the temptations of "guaranteed principal and returns" and "high returns and no risks", and have an in-depth understanding of the project situation and rational investment before investing. At the same time, the public should choose formal channels, be wary of recommendations from various social platforms, and beware of downloading apps or investing in related products through websites from unknown sources.
(The name of the person involved in the article has been changed)
Source: Jing'an, Shanghai