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; Beijing News (Reporter Zhu Yan) - Suspected of indirectly absorbing public deposits and disrupting the financial order, the once famous "Dairy Bank" —— Mengjinghua Investment Co., Ltd. and its actual controller Chen Lianjun among 26 others are accused of illegally absorbing public deposits. Yesterday, the Second Intermediate People's Court began hearing this case.;
; Raised 290 Million Yuan with High Returns;
; According to the indictment, from July 2005 to December 2008, Chen Lianjun colluded with Yan Jie and others, instructing Li Chaoyang and others to illegally raise funds. Through the company they actually controlled, Beijing Mengjinghua Investment Co., Ltd., under the names of Beijing Luhai Agricultural Technology Development Company and Beijing Risheng Delong Dairy Cattle Breeding Company, they used the name "Dairy Bank" to sign "Dairy Cow Purchase Contracts" and "Dairy Cow Lease Contracts." They promised to repurchase upon expiration, return rent on a regular basis, and provide high returns, illegally raising a total of over 290 million yuan in funds.;Welcome to log in;Women;
; Recruited Drivers Involving 2 Million Yuan;
; The prosecution also found that from 2004 to 2005, Chen Lianjun colluded with others through the company he actually controlled, Beijing Shun An Xingda Vegetable Distribution Co., Ltd., to recruit franchise drivers for cooperative vegetable distribution operations as a pretense for fraud. Chen Lianjun and others adopted measures such as signing "Franchise Cooperation Contracts," promising wages, commissions, and ownership of operational vehicles upon the end of the contract period to provide high returns, illegally absorbing more than 40 people, involving a total amount of over 2 million yuan.;
; The prosecution believes that Chen Lianjun and the other 26 defendants indirectly absorbed public deposits, disrupting the financial order, constituting the crime of illegally absorbing public deposits. Due to the large amount involved and numerous victims, the trial will last for four consecutive days.;
; ■ Trial;
; Most of the 26 Defendants Deny Their Crimes;
; According to investors attending the hearing, by 7 PM last night, the court investigation had been completed and cross-examination had already taken place. During the first two days of the trial, Chen Lianjun expressed non-recognition of the charges brought by the prosecution.;
; He claimed that the company belonged to a leasing project which differed greatly from the accusation of illegal absorption of deposits. His defense lawyer argued that the company was legally established and had been paying rent to investors on time until it was sealed off.;
; Most of the 26 defendants expressed denial of their crimes, and their lawyers made arguments for innocence. Attendees mentioned that there was intense confrontation between the prosecution and defense sides, "It was very lively in the courtroom." The prosecution also presented testimonies from some investors who claimed to have been brainwashed by Chen Lianjun’s company. In response, Chen Lianjun believed that these testimonies were unrelated to the charge of illegal absorption of public deposits.;
; ■ Follow-up;
; "I Only Care If I Can Get My Money Back";
; Villager Zhang Jingcai from Shunyi invested 600,000 yuan in December 2007 to buy 24 dairy cows for "rental.";
; According to his contract, Zhang Jingcai purchased dairy cows from Luhai Company and then rented them to Risheng Delong Company. The lease term was five years, with an annual rent of 72,000 yuan, and the principal would be recovered upon expiration. With fixed monthly rents credited to his account, he never suspected anything. Not until the company was sealed did his investment vanish into thin air, just like over 2,000 other investors who shared the same fate.;
; "I don't care about the verdicts against these executives, I only care if I can get my money back," said Zhang Jingcai yesterday. After 2008, he stopped receiving any rent, and "the principal for buying the cows hasn't been recovered either, what should I do?";
; According to investor attendees at the trial, regarding the matter of returning illicit gains, the court has yet to communicate with them.;
; ■ Case Review;
; In December 2008, the police announced that the "Dairy Bank" investment project carried out by Beijing Mengjinghua Investment Co., Ltd. and other companies was suspected of the crime of illegally absorbing public deposits. Criminal compulsory measures were taken against several senior executives.;
; The actual controller of the company, Chen Lianjun and others, manipulated their own company and over ten other companies, luring the public to invest with promises of high returns from dairy cattle breeding, using methods such as selling cows, leasing them back for management, and returning profits regularly, thus涉嫌illegal absorption of public deposits.;
; The police initially verified that since July 2005, they sold a total of more than 10,000 dairy cows, amounting to 250 million yuan, but the actual number of cows in stock was only 4,000.;
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