Xinhua News Agency, Nanchang, December 7th (reported by Li Meijuan) - Using the bait of stock trading guidance and promises of high returns, a company named "Nanchang Boying Technology Information Co., Ltd." absorbed stock investors as members by collecting membership fees. A total of 403,000 yuan in membership fees from 67 stock investor members was illegally obtained. On December 6th, the Xihu District People's Court of Nanchang made a ruling on the illegal business case, sentencing senior executives of the company.
The court found that in June 2009, Xiong Yanjian conspired with Zhang Haibin to establish "Nanchang Boying Technology Information Co., Ltd." (hereinafter referred to as "the company"). Xiong Yanjian used the pseudonym "Chen Xu" to serve as administrative and financial director; Zhang Haibin served as business director; Chen Qikui, Wu Linlin, and Min Wei served as department managers, each leading several salespeople. All company personnel used pseudonyms when conducting external business.
After the "company" was established, Xiong Yanjian and others planned their fraudulent methods: Xiong Yanjian and Zhang Haibin were responsible for providing stock investor phone numbers to the department managers. The department managers were responsible for training, managing, and guiding the salespeople on how to use the "Wealth Manager" software to lure stock investors into paying membership fees (in reality, "Boying Company" did not purchase any "Wealth Manager" software).
It was reported that the daily work of the salespeople was to use pseudonyms and contact stock investors based on the phone numbers provided by the department managers. Under the pretense of selling the "Wealth Manager" software, they lured stock investors into becoming company members and paying membership fees by offering stock trading advice and promising high returns. They also enticed regular members to upgrade to premium members to defraud them of more membership fees. The court found that by the time of the incident, "Boying Company" had illegally obtained a total of 403,000 yuan in membership fees from 67 stock investors. None of the above-mentioned personnel at the company had qualifications for securities investment consulting services.
On December 6th of this year, the Xihu District People's Court of Nanchang legally sentenced the defendant Xiong Yanjian to two and a half years in prison and fined him 200,000 yuan for illegal business operations.