It was found by the court that Huang participated in pyramid schemes in Anyang and other places from September 438, 1965 to 2004. From June 2065438 to June 2005, Huang imitated the operation mode of Tang of Jiangsu Runda Company (handled separately) and Cai, the actual controller of Hangzhou Yanhuang Tea Company, and prepared to set up Hangzhou Longyan E-commerce Co., Ltd., in which Yanhuang Company provided Longyan Company with tea and company shares, and the latter illegally raised funds by selling tea.
In the case of shortage of self-owned funds, knowing that this rebate model is bound to lose money and unable to continue to perform the contract, Huang used high rebates as bait to defraud investors' trust by exaggerating investment projects and falsely publicizing the listing of the company, and defrauded funds from unspecified people in society through conference demonstrations and online platform promotion. Cai Ke attempted to make huge profits by providing tea and stocks for Longyan company members to buy and sell, introducing Longyan company office and attending Longyan company meeting training. Sun served as secretary and president of Longyan Company successively, responsible for the overall work and investment affairs of illegal fund-raising activities, maintaining the data of network platform and introducing others to participate in fund-raising; Ding Wenping is the chief financial officer of Longyan Company, responsible for the management of raised funds and the entry and exit of funds.
In order to expand its influence and further defraud the investment public, Huang also established Yanhuang International Company with Cai and others, and Kan Yue was responsible for the so-called "listing" in the United States. Later, Huang and Cai and others sold shares of Yanhuang International to members through false propaganda. Kan Yue and others 17 people participated in illegal fund-raising activities in Huang and cooperated with each other.
By the time of the incident, Longyan Company had absorbed more than 200,000 people's funds of 654.38+05.6 billion yuan by attracting members' online platform investment and selling stock trading vouchers, resulting in more than 5.7 billion yuan of funds raised by more than 65.438+07 million members that could not be returned.
The court held that the actions of the defendants Huang, Cai, Ding Wenping and Sun all constituted the crime of fund-raising fraud, and sentenced Huang and Cai to life imprisonment, Ding Wenping 12 years and Sun 10 years respectively. The actions of the rest 17 people have constituted the crime of illegally absorbing public deposits, and they were sentenced to fixed-term imprisonment of less than 9 years respectively, and some defendants were suspended. The court ordered 2 1 the defendant to refund the illegal income of more than 5.7 billion yuan and return it to all fund-raising participants.