1. Inflated income
Jiu Hao Group used its accounts in commercial companies to commit financial fraud and exaggerated its trade income. For example, a company bought goods from Jiu Hao Group, although it returned the goods to Jiu Hao Group before the goods arrived, and was approved by Jiu Hao Group and got a full refund. However, in the financial statements of No.9 Group in that year, there were still accounts receivable for this sum, amounting to 570,000 yuan. This fraudulent behavior of inflating income can be found everywhere in the false statements of Jiu Hao Group.
2. Inflated bank deposits
Inflating bank deposits is also one of the financial fraud means of Jiu Hao Group. Jiu Hao Group has a huge deposit of up to 300 million in the bank deposit project. These inflated bank deposits are all wealth management products purchased by Group 9 from banks. After obtaining the relevant bills, Jiu Hao Group mortgaged and discounted these bills, and then deposited the discounted amount into the bank. As a result, the book balance of Jiu Hao Group's bank deposits was exaggerated.