129773928478750000_95Hexun homepage established mobile phone version of the stock/fund micro-blogging news blog roll daily observation of gold community write rapidly economic observation on unit thermal financial political comments on the quality of literature and history on the finance peopleRubric interview and you say the global observation of weekly hexun.com comment window on the South issue 2012 > body font size print RSS March 27, 2012 from: South wind window January 20128th Zhejiang Dongyang, Zhejiang Province High Court of Final Appeal upheld the death of the woman, Wu Ying, and Wu Ying after 5 years, during the controversial Court of final appeal also failed to ease the dispute, has stirred up a lot of public opinion to the contrary. Appeal to the Supreme People's Court review of death penalty on Wu Ying "spare him" sounds come and go, and even petitioned the Supreme Court of Jurists, that "taking a goldThawing market of complex situation, solution is to open the market, establishing free and fair financial system, broken without relying on the death penalty to maintain the financial monopoly of truth ". Wu Ying the crime known as "crime of fund-raising fraud", the charges were sentenced to death in China are not rare, and browse the cases behind the raised fraud tied to private financial lending, from normal civilBorrowing across to the Fund-raising scams, on the judgment of the case, still vague boundaries.
����The endless stream of private finance case, often heavy sentences are still unable to prevent people advanced wave upon wave, is required for the system to reflect and change of soil environment and crime. Crime and non-crime of final judgments of the High Court considered in Zhejiang Province, Wu Ying illegal fund-raising YuanMore than 770 million Yuan, actual cheat more than 380 million Yuan, is seriously not a specific property interests of the masses, seriously undermining national financial management order, amount of huge, big money at will and disposition, and profligate, caused major damage to the country and people's interest, extremely serious crimes. In the first instance, and in the second instance, Wu Ying defence and defence counsel to be not guiltyNurse. On the legal level, the case is one of the important question of whether Wu Ying to raise funds for the purpose of illegal possession, think twice about borrowing money is put into operation, is also used in private.
����Wu Ying believed Wu Ying used the case of first instance judgment sets $ 4 million in funding to buy clothing, $ 6 million guests to dinner, are profligate. In the top of the trialApplication cases of some problems in the interpretation of the law, for "illegal possession" interpretations include the knowledge that without the ability to return, a large number of obtaining funds and profligacy as to obtain two kinds of situation. Proceedings in the case, lawyers, believes Wu Ying think twice about borrowing money is mainly used for business, there is no purpose of illegal occupation. Wu Ying Department of the true qualities of the Group has aEntities of business entities, including a beauty salon, foot-washing shop, jewelry shop and a series of shops, as well as real estate.
����Court held that Wu Ying is in knowing that there is no restitution cases of false advertising, fraud, including fraud, but in the course of the Court's consideration, Wu Ying and defence counsel agreed that if not caught all of a sudden, Wu Ying has the ability to repay. CourtTrial materials point out that Wu Ying started financing the return of conditions reach per million from $ 30 to $ 50 per day, and to introduce the middleman per million of financing Commission of $ 10 per day per quarter or 30%~100%. In accordance with its involvement in industry, may fall short of the rate of return. Wu Ying and defence counsel considered that, Wu Ying if not was suddenly arrested, was not able to pay back theBorrowed funds.
����In the trial process, Wu Ying has a range of real estate and industry is forced to auction
tera power leveling, and the returns on real estate than any other industry, so Wu Ying is knowing that there is no repayment capacity is still deception for the unauthorized Fund gathering amid doubts. To the incident, Wu Ying color group is a $ 380 million loan is not. In the enterpriseDuring the camp, debt is normal, and Ponzi scheme is fraud, borrow new or old is normal debt is Ponzi, both in industrial operation and ability to generate profits and cash flow, to repay. Wu Ying another controversial point is whether a case of illegally absorbing deposits in public, the Court held that Wu Ying lending objects while only 11 people, but these 11 peopleEngaged in usury and its affiliates up to 30 per cent of the community-oriented, so Wu Ying also conform to the crimes of illegally absorbing deposits in public.
����In accordance with the law, maximum sentences of 10 crime of illegally absorbing deposits in public
tera power leveling, and financing the maximum penalty for the crime of fraud is the death penalty. Wu Ying Yang Zhaodong second defence counsel: "Wu Ying is not innocent, she in enterprise managementDuring acts of bribery, counterfeiting seal of enterprises and institutions, which can be convicted, she should bear criminal responsibility. But she does not have to borrow money from the public, do not provide a means to borrow money for publicity, nor committed any fraud Act, she should not be financed for the crime of illegally absorbing deposits in public, fraud, should not pay for healthCost of life.
����"Out of grey system in the case of Wu Ying, from 1995 to the present, a number of people were sentenced to death for illegal financing case, respectively, great wall's Shen Taifu illegal financing case, Billy Deng illegal fund-raising case in Jiangsu Province, Lishui Du Limin illegal fund-raising scam, Taizhou Wang Jufeng illegal fund-raising scam, Anyang, Henan Liu Hongfei illegal financing case. 2010Last year, Kyoritsu illegal fund-raising in Zhejiang Province alone class 206 cases.
����Wu Ying's judgments, have pointed out that the "Wu Ying's actions not only violated the property rights of others, and destroyed the financial administration of the State". Lending and financing of these folk are why the State financial management order crime, this is conducted on the systemWu Ying thoughts focused on the case. Administration of national financial systems, financial order is dominated by State-owned commercial bank system. In addition, whether rural capital Credit Union, microfinance company is also civil RCAs, even on private equity (PE), are likely to be illegally absorbing deposits in public of financed crime and fraud. Called the State financial managementOrder more points to is the financial impact of the national financial system, affect the interests of the State-owned commercial banks. Private finance cases such a high fat, cause on State-owned commercial bank system's support to small and medium enterprises limited, not certainty of venture capital is not supported, as well as the presence of deposit and loan interest rates, both on the supply and demand for money, for a long time are Mong KokSheng. Private lending boom of course pursue high return on investment high risk speculative, but its objective is for SMEs with a lot of money on demand. Wenzhou City Branch of people's Bank monitor displays, in Wenzhou, only 10% of the enterprise to obtain finance from the formal financial system, and close to 90% enterprises rely on folk debit and ways of financing. Wenzhou 8Cent of families and 9% of enterprises involved in the loan.
����Wenzhou Zhou Dewen, President of Association of small and medium enterprises in the research also found that the loan size over $ 1.5 trillion of Zhejiang Province
tera gold, national reach $ 3.7 trillion. Private lending funds of heavy rains, associated with the State-owned bank deposit interest. Some scholars estimate, since February 2010Example, the Bank of China (601,988, unit) of the "negative interest rates" has continued for 24 months, and negative interest rates had been as high as 3%. National Express debit interest rate can not exceed 4 times times the Bank loan interest rates over the same period, however, China's current loan rates are basic, some up to around 200% 50% (annual interest rate����
����If this projection, most of the private finance is likely to fall into the moral dilemma of illegal and legal trouble. Admittedly, because of asymmetric information, loan often results in fraud and investment failures, and once investments failed, will most likely be identified as illegal fund-raising and fraud. From the point of view of investor protection, drainage more effective than blocking, it is bySealing of the financial system, leading to financial institutions such as unions, small and medium-sized banks could not be set up, to underground financial forms, also led to its dramatic increase in risk of default. Chinese Academy of Social Sciences Institute of rural development, Feng Xingyuan on 16 cases of unauthorized Fund gathering and absorbing deposits in public research and discovered, once a money chain crisis, government intervention, civil RCAsAccelerating the collapse, enterprises cannot afford the debt, and some committed suicide, while others become unlawfully at large as, controls or detention by police. As long as there become unlawfully at large as, wanted by the police on the Internet in General.
����In general because the funds involved chains are long, woven together, very easy to be sentenced as illegally absorbing deposits in public. "Solutions to the risk is that some solutionApproach, clear the way, improve the financing environment, reduce capital chain tension.
����"Feng Xingyuan to the window on the South, reporters said. Reasons for blocking more than sparse, President of the Association of small and medium enterprises in Wenzhou Zhou Dewen, is "the State authorities fear a large number of private capital affect the interests of existing financial institutions, a large number of private capital involvement, impact the financial order, this is a concern, the biggestResistance is firmly in the control of financial institutions by some interest groups, not into new bodies, glass door, spring occurs. " Imprinted in the era of financial control, also led to acquire financial resources within the system and are used within the system outside the system facilitate the blending, lenders have their family members of the persons or officials within the financial system, which control briberyAnd private lending risk unwanted and useless speculation. Large areas of the civil loan sharks on the one hand, on the one hand and the financial system is closed and monopolistic, this is "illegal financing" and "illegally absorbing deposits in public" under the body strong imprint of the times. In China's economic development in the course of legal regulatory lag in the age of the case are not uncommon, most notablyWas "speculation." In the planned economy in the process of transition to a market economy, imposed on some commodities as "price two-track system", in the existing system based on the use of two different pricing system operational activities are defined as "speculation". In 1982, there were 30,000 people sentenced for speculation. Wenzhou private finance of Zheng Lefen to speculation the crime 1991 were executed.
����This system of individuals as a result of defects with impunity "draconian laws" until 1997 to removed from the criminal code. Debit charges caused by the unauthorized Fund gathering and absorbing deposits in public, also has a similar two-track as a result of the grey area, because of the banks ' monopoly on the one hand, and on discrimination in private enterprises the cost of higher lending thresholds and the formation of, aIs the private capital which was forced down, rise of forming civil loan shark does not weaken. Private finance calls for legislation to regulate the opening and has continued, but modification of laws and the formulation of the relevant work has been established, on the one hand there is the default, and a severe blow on the one hand, society in psychological crisis of uncertainty. These "illegal"Combat, objective form on maintaining the existing system of monopoly, spreads the maintenance of State-owned financial system brought about by the high profits of the status quo. As called for by the academics, the convicted of fraud, but may break the illegal fund-raising charges. At the same time, when those illegal occupation of public or State-controlled financial system up to hundreds of millions of dollars of public funds when officials are still exempt from the death penalty, such as Wu YingWhy private finance troublemaker to capital punishment deter?
Others:
No comments:
Post a Comment