2015-06-09 Source: Times Weekly
Illegal fund-raising: More than 3,000 people in Suzhou and Yangzhou were involved in the case, and Yuexing Home was involved.
The illegal fund-raising involved more than 3,000 people in Suzhou, Yangzhou and other places, with a total capital of more than 600 million yuan. Moon Star Home may be involved. According to multiple creditors, the illegal fund-raising involved more than 3,000 people in Suzhou, Yangzhou and other places, and the total amount of funds exceeded 600 million yuan.
Event recovery:
At the end of May, the illegal fund-raising scam that started with Wenzhou businessman Su Yufeng and his actual controller Gaoyang Investment Holdings Co., Ltd. (hereinafter referred to as "Gaoyang") finally surfaced , causing vibration. According to multiple creditors, the illegal fund-raising involved more than 3,000 people in Suzhou, Yangzhou and other places, and the total amount of funds exceeded 600 million yuan.
Previously, the local police in Suzhou opened an investigation into Gaoyang's Suzhou subsidiary on suspicion of illegally absorbing public deposits (a type of illegal fund-raising). On June 2, the local government in Suzhou told investors that the investigation into Gao Yang was still ongoing.
Gaoyang mainly raises financing by selling the operating rights of two commercial complexes, Yangzhou Yuexing Home International Plaza (hereinafter referred to as "Yuexing Plaza") and Suzhou Gaoyang International Plaza (hereinafter referred to as "Gaoyang Plaza"). The foundation stone of Yuexing Square was laid in March 2065438+2002. It is jointly invested by Zhejiang home furnishing giant Yuexing Group and Gaoyang, with a total area of ??200,000 square meters. Gaoyang Plaza is invested by Gaoyang subsidiary, with a total area of ??99,000 square meters. The foundation stone was laid in April 2011. At that time, the investment was expected to be 800 million yuan.
From June 2065 to June 2002, Gao Yang raised more than 600 million yuan from investors in Suzhou and Hangzhou by selling shop operating rights, and promised in writing to return a certain amount of profits to investors on a regular basis, and finally to buy back Way to guarantee exit. However, at the end of 2014, Gao Yang stood up many times and failed to pay promised benefits on time, and the Yuexing Plaza and Gaoyang Plaza projects also began to be suspended.
A person close to Gaoyang Group revealed to Times Weekly reporters that development funds for commercial complex projects in the two places may have been misappropriated to repay previous debts.
Illegal fundraising exceeded 600 million
On March 26, Suzhou Industrial Park Antai International Business Hotel Co., Ltd. (hereinafter referred to as "Antai International", the developer of Gaoyang Plaza) was The Economic Investigation Brigade of the Public Security Bureau investigated and the account was frozen.
Antai International has a registered capital of US$55 million, and its shareholder is Gaoyang Holding Group (Hong Kong) Co., Ltd. (the actual controller is Su Yufeng). It is mainly engaged in the development and operation of hotels and commercial buildings in Suzhou Industrial Park.
2065438+In June 2002, before the main structure of Gaoyang Plaza was completed, Gaoyang sold its self-owned shops (which did not meet pre-sale conditions) to local 2,400 people at a price of 10,000-30,000 yuan/square meter. More than 100 investors raised approximately 480 million yuan.
“The shops that Gaoyang sold us the operating rights are all in podiums and basements, which is expressly prohibited by the government.” On May 30, Suzhou creditor An Ying (pseudonym) reported to Times Weekly.
In the sales contract, the repurchase conditions set by Gaoyang are divided into two stages: selling the 10-year operating rights (after two years, Gaoyang can choose to buy back or continue to hold to obtain interest) and 15 years (Gaoyang will repurchase it five years later). In the first year, "investors" can obtain interest of 65, 438 + 065, 438 + 0% of the principal amount, and the interest will increase year by year thereafter.
According to the "Interpretation of the Supreme People's Court on Several Issues Concerning the Specific Application of Law in the Trial of Criminal Cases of Illegal Fund Raising", if there is no true content of the real estate sale or the real purpose of the real estate sale is not the main purpose, the original sale price shall be returned. Or agree to illegally absorb funds through repurchase and other methods, and if the relevant conditions are met, it is illegal to absorb public deposits.
Gao Yang, who has long been suspected of violating regulations, was not investigated until March this year. "In August 2013, I bought the operating rights of Levin Plaza. There was no pre-sale license at that time. Gao Yang promised to return the income every six months. I was supposed to get the third interest return in March this year, but Gao Yang He broke his promise again and again," An Ying said.
According to information from Gaoyang Group, Gaoyang Plaza has invested 850 million yuan, exceeding the expected target of 800 million yuan, and needs to invest another 250 million yuan to complete it. However, Gao Yang’s financing from public channels has exceeded 1.1 billion yuan, far exceeding his expected amount of funds.
A CITIC Trust Suzhou Gaoyang Antai International Plaza loan collective fund trust plan shows that Antai International, as the borrower, uses the Yuexing Plaza land as collateral to establish a collective trust with a capital scale of no more than 440 million yuan. Gao Yang also raised 600 million yuan for project construction through Anying Fund. Since July 2016, Gao Yang has collected and repaid 15%, 15%, 20% and 30% of the principal respectively every month.
In addition, Gaoyang guaranteed 100% of the equity of Antai International and refinanced 400 million yuan for Gaoyang Plaza through Founder East Asia Trust. Excluding the 480 million yuan previously raised, Gaoyang has accumulated at least 65.438+048 million yuan for Gaoyang Plaza, which exceeds the project's current demand of 654.38+06.5438+0 billion yuan. 2065.438+04Why is Gaoyang Plaza suspended in the second half of the year?
A reporter from Times Weekly asked Gao Hua, the sales director of the Gaoyang Plaza project, for relevant financing data. He said that the matter has been investigated by the public security department and it is not convenient to disclose the information.
Times Weekly reporter called the Suzhou Industrial Park Government Finance Office as a creditor. Relevant personnel said that Gao Yang's project in Su has been mortgaged to a trust company. Due to the break in the capital chain, the trust funds cannot be repaid and there are not many assets for sale.
The capital chain was broken and the project was suspended
A scene similar to Suzhou Gaoyang Plaza was repeated in the Yangzhou Yuexing Plaza project. Multiple public information shows that Yuexing Plaza was built with a joint investment of 700 million yuan by Gao Yang and Yuexing Group, with the latter responsible for operation and management.
Liang Ping (pseudonym), who bought the operating rights of Star Plaza this month, told Times Weekly reporters that he spent more than 300,000 to buy the operating rights of the store in July 2004, with a unit price of 2.9 Yuan/square meter.
Times Weekly reporters learned from multiple channels that the operating rights of the Gaoyang Suzhou project were divided and sold to more than 1,000 "investors", with amounts ranging from 50,000 to 1 million yuan, * * * The funds raised were approximately 275 million yuan. A reporter from Times Weekly called Zhou He, vice president of Gaoyang Group, on related issues, but the other party refused to respond.
Judging from the contract signed by Gao Yang and the "investor", there are two ways to invest in Yuexing Plaza.
Investment in property rights is: 265,438+0% of fixed income is deducted in one go in the first three years, and increases by 65,438+0% year by year starting from the fourth year; non-property management rights investment threshold It is 80,000 yuan, with a yield of 9% in the first and second years, and an annual increase of 65,438+0% thereafter, and can be repurchased in the short term.
Despite receiving hundreds of millions of yuan in financing, Yuexing Plaza was still under construction at the end of last year. Gao Yang has also encountered collective rights protections many times since May because he was unable to return the proceeds to his "investors" on time. Faced with doubts, Gao Yang said that there will still be a funding gap of 654.38 billion + 90 million when the project is completed.
Times Weekly reporter called the Zhuxi Subdistrict Office of Hanjiang District, Yangzhou City as a creditor. The staff member said that Gao Yang is trying to make up for the funding gap through financing and will consider asset mortgages if necessary.
As the incident intensified, Yuexing Group remained silent. A reporter from Times Weekly called He Mo, director of the public relations department of Yuexing Group, and the other party denied that there was any commercial cooperation with Gaoyang, saying that Gaoyang's use of the Yuexing home brand has not been officially authorized.
However, documents obtained by Times Weekly reporters show that Yuexing Home Furnishings signed an equity transfer agreement with Gaoyang Yangzhou subsidiary as early as July 2014, purchasing 16.7% of the equity of Gaoyang Yangzhou subsidiary for 24 million yuan. . However, Gaoyang failed to fulfill its commitment to change the industrial and commercial information on time. Yuexing Home Furnishing issued a reminder letter to Gaoyang's Yangzhou subsidiary in September 2014, requiring Gaoyang to change the industrial and commercial information.
Bad records have been blacklisted by the court.
When the projects in Suzhou and Yangzhou fell into a broken capital chain, several "investors" in Gaoyang's Subei Logistics City project in Xinyi also reported to Times Weekly reporters that the property rights to purchase the above-mentioned shops were long-term. No interest is paid.
An "investor" in the Subei Logistics City told the Times Weekly reporter that at the end of 2010, he bought two sets of shops in the second phase of the Subei Logistics City. Gao Yang promised to rent out after-sales and return 8% of the interest every year. rent but have not received a rent refund for two years.
Times Weekly reporters previously sought confirmation from Xinyi city government departments, who said that the Subei Logistics City is still operating normally, and it is normal for individual "investors" to cancel their leases.
In addition to being unable to repay interest on time, the prices of the two commercial complexes in Gaoyang are also extremely low.
In 2004, the floor price of Gaoyang Plaza was only 360 yuan/square meter. The floor price of Yuexing Plaza, which was acquired at the lowest price in 2010, was only 563 yuan/square meter.
As the helmsman of Gaoyang, Su Yufeng served as chairman of the Zhejiang Business Presidium and vice president of the Zhejiang Chamber of Commerce in Jiangsu Province. According to media reports, Su Yufeng was engaged in the hotel supplies trade industry in his early years, but later suffered a major setback due to errors in judgment. In 2002, Su Yufeng came to northern Jiangsu to develop the market. The Suqian Digital Technology Plaza developed by Su Yufeng became an instant hit in Suqian.
Su Yufeng, who won the first battle, began to expand crazily. In 2005, it achieved success again in Xuzhou Xinyi, a leading building materials logistics center in northern Jiangsu. Subsequently, Gao Yang opened the Home Depot Building Materials and Furniture Plaza, which he invested 200 million yuan to build. In 2007, Su Yufeng developed Yangzhou Jiangyang Trade City, covering an area of ??300 acres and a construction area of ??200,000 square meters.
Subsequently, Gao Yang invested in the construction of many hotels such as Hunan Yiyang Roman Holiday Hotel, and acquired Yangzhou Bridge Food City. According to people close to Gaoyang Group, Gaoyang's funds began to get stuck due to rapid expansion, so it had no choice but to divert construction funds from projects in Suzhou, Yangzhou and other places to repay previous debts.
Times Weekly reporter learned that Su Yufeng had been sued many times for refusing to repay private loans. The Xinyi City Court refused to perform the obligations determined by the effective legal document on the grounds that he had the ability to perform. Therefore, Su Yufeng was Be included in the list of dishonest persons subject to execution.
In addition, Su Yufeng’s Antai International and Yangzhou Borun were blacklisted by the Suzhou Intermediate People’s Court in June last year for refusing to perform their obligations specified in effective legal documents, concealing property, and evading execution. In addition, Gao Yang's subsidiary was also sued in court at the end of 2014 for failing to repay a loan from a small loan company on time.