After a year of investigation, there is new progress in the case of the "Jinzuo" illegal fundraising: on the 26th, the Intermediate People's Court of Kunming will announce the verdict on this case.
Last April 27, the trial of the "Jinzuo" illegal fundraising case was suspended. The prosecution found that on October 25, 2005, Bao Chonghua and Gao Demin registered and established Jinzuo Company, which mainly made false propaganda to middle-aged and elderly people. They claimed that "the company is a Sino-German and Sino-US joint venture in the Toona sinensis forestry project, mainly operating agricultural, forestry, animal husbandry, and pharmaceutical立体agricultural composite industries." With this, they widely mobilized clients, mainly middle-aged and elderly people, to invest in the above-mentioned industries of the company and promised investors: "according to different investment terms, returns of 8% to 15% can be given. After the investment term expires, not only can the capital be recovered, but also high profits can be obtained."
However, in fact, after Jinzuo Company illegally absorbed public deposits, most of the funds were used for extravagance and payment of intermediary fees, and ultimately only a small part was used for operations. The prosecution charged Bao Chonghua, the legal representative and chairman of Jinzuo Company, with three crimes: fraud through fundraising, falsely reporting registered capital, and destroying accounting materials. The other 44 suspects were accused of illegally absorbing public deposits. By the time of the incident, Jinzuo Company had attracted investments from 21,256 people, with an amount of illegal fundraising reaching more than 480 million yuan, resulting in a loss of more than 300 million yuan.
The case was tried over a period of three days, during which the prosecution used more than 2,700 volumes of evidence to charge "Jinzuo" Company with all means and methods of suspected fraud. During the court debate phase, the prosecutor argued that Bao Chonghua and Chen Wenye colluded together, fabricating a massive scam to conduct illegal fundraising activities, with serious circumstances and extremely poor attitudes towards admitting guilt. The prosecutor suggested sentencing Bao Chonghua and Chen Wenye to death. In addition, Cui Xiaohong, as the financial manager of Jinzuo Company, played a significant role in the crime and should be sentenced to more than 15 years in prison. Other defendants should be punished according to the law within the sentencing range.
Bao Chonghua defended himself in court, saying he was willing to pay off the debt first before giving his life to the court. Other defendants admitted their mistakes one by one in court but refused to lower their heads and admit guilt, denying that they had committed fraud. A year later, the verdict of this case is about to be announced. What crime should Bao Chonghua be charged with? And what will happen to the other 44 defendants? The results everyone is waiting for are about to be revealed.
By Liu Ling and intern Li Jiani. Comments are welcome. I want to comment. Weibo recommendation | Today's Weibo hot topics (Editor: SN026)