Death sentence for fraud- yesterday paper
Shanghai biological group Chairman Song Jinan gold raised nearly 400 million fraud was sentenced to death
May 23, 2011 Xinhua I want to comment (3)
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Xinhuanet, Haerbin, May 23 (reporters Guan Jiantao and and Cheng Zilong)-Shanghai intermediate people's Court on May 23 on double gold in Shanghai biological groups 15 people illegal fund-raising scam to make a decision, principal Song Jinan, yanyihong, Raymond Li all were sentenced to death, deprivation of political rights for life and confiscated of all personal property.
Song Jinan Shanghai Golden bio-industries, Ltd set up in March 1999, the registered capital of RMB 2 million. In 2007, the Song Jinan in the absence of any approved cases, planning for the public collection of funds, 2008 start option unit, the stakes are high interest rates to attract investment in the name, to raise funds to fraud and criminal activities.
Since then, Shanghai gold biological society 8,264 people raising a total, actual financing of RMB 3. More than 800 million Yuan, the actual return to RMB 1-cost-profit. More than 200 million Yuan, RMB actual losses of 2. More than 500 million Yuan.
Court think, principal Song Jinan, and yanyihong, people to illegal occupies for purpose, using fraud method illegal fund-raising, amount special huge, its behavior has constitute fund-raising fraud crime; Gu Yujie, people illegal absorption public deposits, amount huge, disrupt financial order, its behavior are has constitute illegal absorption public deposits crime; Liu Yansong deliberately destroyed accounting voucher, plot serious, its behavior has constitute occult, and deliberately destroyed accounting voucher, and accounting books, and financial accounting report crime.
Financing fraud in the case of common crime, Song Jinan, and yanyihong and the Li Weiming (Raymond Li former Group Finance Director), Yanli (Song Jinan wives, former Vice Chairman of the Shanghai Group) is principal of, the remaining defendants were accomplices.
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