According to the police report, Dai Mokang, the legal representative of Shanghai Zendai Company, and Dai Moxin, the general manager, surrendered themselves to the police on August 29, 20 19, and claimed that there were illegal acts such as setting up a cash pool and misappropriating funds during the company's operation, which made it impossible to pay. The circular pointed out that Zendai Company illegally absorbed deposits from unspecified public through its online financial platform (Shanghai Zendai Aite Financial Information Service Co., Ltd.) and its offline financial store (Shanghai Zendai Thumb Financial Co., Ltd.) without obtaining the relevant national financial qualification permission.
Dai Mokang in the above-mentioned police announcement is Dai Zhikang, the major controller of Zendai, and Dai Moxin is Dai Weixin. According to insiders of Zendai Fortune, they are relatives of uncles and nephews.
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It was only half a month before the announcement of benign liquidation and the investigation of suspected illegal fund-raising.
In more than two weeks after Taobao, a P2P platform owned by Zendai University, announced its liquidation on August 19, 2009, Dai Zhikang, the helm, vowed that he had never issued a redemption plan for benign withdrawal. "Please give us some patience. We have the ability to achieve a benign exit from the platform. " In the first letter to users in August 14, Dai Zhikang said that "the platform is still there, Zendai is still there, and so am I".
On August 26th, Dai Zhikang released the second letter to users, saying that he and all the senior executives of Zendai University would not run away and lose contact, so as to appease investors. Regarding the problem that it is impossible to fully pay the users at present, he said that the funds lent by investors in the past can be fully returned within the closed period, because the secondary market with creditor's rights transfer has stopped now, and the money needs to be returned from the borrower in stages according to the credit contract. But this explanation did not satisfy investors.
A Taobao investor told reporters that as early as August 15, the Pudong Public Security Bureau had clearly posted a sign on the glass of the reception hall to receive reports from Taobao investors. It is reported that the assets of the "Zendai Fortune" offline wealth management store announced by the police are about 5 billion.
Dai Weixin, president of Zendai Fortune, said in an interview with the media in August 20 17 that Zendai Fortune has set up more than 150 branches nationwide, including wealth management services and credit consulting services. At that time, the management scale was about 6 billion, and the scale of employees had reached more than 8,000. Online, according to the data released by Taobao in July, the balance of platform loans is about 5 billion yuan. Since its establishment five years ago, the accumulated loan balance of the platform is 29.6 billion, which is a medium-sized online lending platform in Shanghai.
References:
Qian Xun. Com- Dai Zhikang, Shanghai Big Brother, officially kicked off the collapse of the arrest warrant system.
References:
Phoenix Net-"Zendai Department" collapsed! Where have all the billions of dollars in Dai Zhikang gone?