Hunan Prince Milk fund more than 7900 million ille

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data for: Prince Edward Lee, founder of passers-pure milk

Network on December 1 in China Zhuzhou City, Hunan Public Security Bureau reported that dissemination of information: Hunan Prince Milk and passers-pure Li illegal deposits from the public and others , the case of misappropriation of funds, has approved the arrest of four people, released on bail 9, the case is under further investigation.
June 7 this year, Zhuzhou City Public Security Bureau set up task force on Li Hunan Prince Milk Group and other passers-pure case of illegal deposits from the public investigation. October 19, a task force to passers-pure Li and others suspected of the crime of misappropriation of funds officially file for investigation, and shall recalculate the way Lee and the others in custody during investigation period.
illegal deposits over 7900 million

been identified, in February 2008, Hunan Prince Milk Group Chairman, the actual control of passers-pure Li, and others, to address the financial difficulties the situation, After careful planning, decided to \3 files, dealers and internal employees across the country to absorb funds.
It is understood that specific methods of operation they are: the dealer to pay the purchase price under the provisions of the period, with 2% or 2.5% of the monthly interest rate (cash reward), the staff uses the \payment bond \For active participation, or demotion, a pay cut.
The group also promised to pay money for gold dealers and employees to subscribe for non-milk business,[link widoczny dla zalogowanych], \China announced after market share and grow 10 to 100 times the profit margin is huge. This as a bait to attract dealers and staff participation.
2008 年 4 later this month, the group held a national investment will be 4 games, the company reserves on loan documents and initial public policy, and the country old and new distributors and customers of intent to explain, promote and attract further public participation.
year in September, Lee pure way to raise interest rates to 30% to 50%, and issued a \and \
According to statistics, in September 2008, Lee pure passer way to reserve money, illegal deposits from the public for the community 426, 478 people, illegal absorb up to over 7900 million yuan of funds, most are returned.
high-interest loans over 5800 million

Although Lee and pure way to take the money illegally reserve means a huge amount of public deposits, but the funds raised are still unable to meet demand. September 2008 to 10 months, passers-pure Li and others to the company or individual, with the company's fixed assets, personal shares as collateral, to sign a loan contract, promissory note or agreement, the agreed loan period and high interest (10% to 20 month %) of the way society does not have a specific object-oriented high interest loans 58.13 million yuan. Currently, most did not return.
notification of Zhuzhou Municipal Public Security Bureau, said Li Hunan Prince Milk Group and the behavior of pedestrians and the others suspected of the crime of illegal deposits from the public. Li and the others in the way business is not a financial institution knows, no case of qualified deposits in order to \committed within a certain period of currency, in kind,[link widoczny dla zalogowanych], etc., to the debt service or to return the investor behavior, is a disguised form of illegal acts of public deposits.
Hunan Prince Milk Group, the old and new distributors, and through internal staff, distributors, the development of the public, with broad, uncertainty and openness, in line with the legal community does not feature a specific object . Li and others pure passers in the actual operation, issued a fund-raising mission, set of incentive measures, employees and dealers called \In reserve money has been involved in most of society does not object specific object to the surface to conceal their illicit fund-raising legitimate form of truth.
task force believed that Lee and others, acts of pure passers obviously harmful to society: a lot of money not used for production and operation, increasing the burden on businesses and the cost of serious damage to the interests of enterprises; illegal absorption of public deposits especially the large number of loan sharks to borrow disrupted the city's normal economic and financial order; because a lot of money can not be returned, damaged the legitimate property rights of the public, to the social stability to stay hidden.
misappropriation of funds 33.3 million yuan

task force also identified, in July 2007, Lee to meet its purpose solely for personal control of the financial needs of non-milk business, the Board of Directors and without the Shareholders will agree that no case of asset evaluation, to take \Hunan Hongshenghuo Investment Management Limited.

after passers-pure Li to arrange company official signing of 5 copies of \Agreements are not based on the 5 normal business transactions and substantive transactions, there is no transfer of assets and the transfer of property rights, and of which more than 840 million of assets is a false assets. Li, the behavior of pedestrians and the others suspected of the crime of misappropriation of funds.
News Review: Prince of milk, founder of illegal deposits from the public XingJu

Police confirmed by the Hunan Zhuzhou: arrested for the crime of illegal deposits from the public, Hunan Prince Milk Group has been on the biotechnology Lee Co. pedestrians and the others taken criminal coercive measures.
Prince Milk Group into bankruptcy and reorganization proceedings

7 23,[link widoczny dla zalogowanych], Zhuzhou City Intermediate People's Court ruled that: Hunan Prince Milk biotechnology limited liability company into bankruptcy reorganization proceedings, and selected through a competitive way for the Beijing Deheng Law Firm bankruptcy reorganization administrator.

(This article Source: Network of China: Zhang Xiang)
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