Behind the illegal fundraising of 139.5 billion by Hongling Venture Capital
On December 7, the Shenzhen Intermediate People's Court publicly announced the verdict in the first instance of the illegal fundraising case of Zhou Shiping, the leading brother in the P2P industry: the defendant Zhou Shiping was sentenced to life imprisonment, and the remaining 17 defendants were sentenced to fixed-term imprisonment of 11 years to 2 years and 6 months, and fined. The number of people involved in the case is 51680,000 people, involving a total amount of 139.5 billion yuan, resulting in 11The 960,000 fundraising participants lost 1638.8 billion yuan. Divide the lost principal by the number of people who have lost the principal to get the per capita principal of 1370,000 yuan. This is also a big case.
A friend in the background asked me if I could decipher what P2P is, is this legal?If it is legal, why is it sentenced to life, and if it is illegal, why can it be overwhelmingly publicized?That's a good question, so I'll give you an interpretation of what my friends asked. Because I am not engaged in P2P, I will talk about what went wrong with P2P and Hongling Venture Capital from the perspective of finance + Internet.
The first time I heard about P2P was in the year of the Olympics, and I went back and wondered what it was because I heard a concept. Here's a quick breakdown:P2P is person-to-person, that is, the borrower directly finds the money。The P2P online loan we often talk about is an information tool through the Internet, so that those who want money can directly find the person who gives money, so as to reach a debt relationship. The platform is just a pimp, and there is no relationship between guarantee and risk-taking, unless you promise to pay rigidly and write it into the contract.
The Internet itself is a technological progress, which makes communication efficiency 100 times more efficient, but technology itself is worthless. For example, the technology of the steam engine was not valuable, but when the steam engine entered the travel scene and created goods such as trains, gas ships and automobiles that could create value, the technology was given commercial value by the commodity. When the high-tech of the Internet entered the borrowing scene, P2P online loan products were formed, which improved the efficiency of borrowing money and generated a lot of commercial value
The financing of small and medium-sized enterprises in our country has always been a very rare problem, the qualifications are not good, the assets are not good, the profitability is just like that, it is basically impossible to borrow money from the bank, and a large scale of private lending has gradually formed among businessmen. Private lending is all about emergency relief and not poverty relief, if you lack money, he dares to ask for 3 cents of interest, it doesn't matter if you don't borrow from others, anyway, you need money for turnover, salary or something, it's just a matter of who to borrow.
The economy is very good, ** everywhere, as long as the cost of capital is outperformed, there are businessmen who dare to borrow money。In the 90s, there were many capital plates in the south that completed the accumulation of the first pot of gold through usury, and it was also because of the needs of the real economy that the banks relied on private finance to serve them before they were liberalized. This is a demand scenario, so any efficient way to borrow is needed
Boss Zhou is also a reckless hero, in the 90s, he made money and founded Hongling Venture Capital in 2009, at this time the company is definitely the first echelon of P2P, so Boss Zhou is also known as the godfather of online lending. Hongling Venture Capital is known for its large bids and promises to pay in full, attracting a large number of investors in the past 8 years. Because Boss Zhou often interacts with investors and interacts with investors, everyone affectionately calls him Brother Zhou.
The so-called "large bid" is an investment project with a large amount。According to the data of Hongling Venture Capital, only in 2014, there were 9 targets with an amount of more than 100 million yuan, and 60 targets with an amount of more than 10 million yuan. The interest level of the large target is higher and the term is longer, which is very much in line with Brother Zhou's interests. Moreover, this model has been controversial, and there have been different opinions on whether the large-amount standard exceeds the boundary of online lending. For Boss Zhou, this business model brings high trading volume to the platform.
Full payment is a rigid payment that indirectly promises to protect the principal of an investment。Brother Zhou promised investors that if the loan on the platform is overdue, Hongling Venture Capital will advance the principal and interest of the investment to the investor in full. This so-called "zero-risk" investment model has attracted a large number of online loan investors for the platform, and accumulated a group of investors and fans for the platform, which also ensures a relatively stable capital inflow of the company.
There are projects and money, but Brother Zhou really doesn't know how he loses. According to the financial report released by Brother Zhou, the turnover at the peak has exceeded 450 billion yuan. Such a large amount, but as a de facto bank, compared with traditional banks, Hongling Venture Capital's risk control and supervision are lacking. Matches without referees are bound to end in chaos, and Red Ridge Capital is in trouble with Invincible.
As of Brother Zhou's sentence, the full payment rate is only 12%, and there are still a large number of sufferers who don't know when they will be able to reduce their losses, let alone pay in full. And large bids have also been queued up for thunderstorms due to frequent defaults. Since 2015, the non-performing rate of Hongling Venture Capital has risen sharply, with 100 million yuan of bad debts of Guangzhou Paper, 70 million yuan of Senhai Garden Project, and 1500 million yuan, 60 million yuan of Yiyang Group, etc. The data shows that in 2017, the bad debts of the enterprise exceeded 5 billion yuan, and each problem list of the large target was a fatal blow to Brother Zhou, making the company fall into the dilemma of being unable to pay.
From the perspective of Internet finance, whether Brother Zhou is really wronged or a dog** Let me talk about the things behind it, and then you can judge for yourself. First of all, let's take an example, Zhang.
Three, Brother Zhou and Wang Wusan. Zhang San has money and wants to invest, Wang Wu lacks money and wants financing, and the two met through Brother Zhou. So Zhang San lent the money to Wang Wu, the money was transferred to Wang Wu's account, and Wang Wu's IOU was also written directly to Zhang San, Brother Zhou is an intermediary and he is not qualified to touch money, this model is P2P.
But people's hearts are insufficient, Brother Zhou thinks that you know me through me, and I am sorry for my identity if I don't pump a single piece of water. So Brother Zhou asked Zhang San to borrow money with an interest of 10%, and put the money to Wang Wu at 20% interest
At this time, it is not a thunderstorm, after all, the amount is small, as long as Zhang.
Third, if Wang ** reports, then the official family will not trouble you. But the problem is that Brother Zhou is too greedy, and he wants to make more money. When the amount of funds in Brother Zhou's hands is large to a certain extent, it is no longer up to Brother Zhou to call the shots when he wants to stop, and it is really troublesome at that time.
Since P2P has rules and restrictions, Brother Zhou has to play something different if he wants to make a lot of money. Here's how it works:First of all, he assumed that countless fictitious, qualified Wang Wu needed moneyThen he found countless real Zhang San to borrow moneyWhen Brother Zhou sucked up a large amount of money, he invested it in the hottest place, the highest interest rate, and the most risky place. That's right, those years were real estate development, and there was no one.
Brother Zhou took a large amount of money to borrow money from real estate development and crossed the bridge. This can be seen from the thunderstorm of Wolong Real Estate, every real estate development company has countless hidden debts that cannot be said, and part of this is the best P2P that has been played。If you understand the above operations, you will knowBrother Zhou is no longer illegal at this time, and it is not an exaggeration to say that this situation is a fraud
Brother Zhou is not only that, his capital plate is already very large. There are countless real Zhang San creditors on his platform, and there are also many real Wang Wu debtors. One day, when the defective increases to an early warning line, that is, there is no way to pay it in the future that is visible to the naked eye, then Brother Zhou will break the jar and break.
What will Brother Zhou do, I can give a reference***Brother Zhou can empty the capital pool in the way of a garbage project, turn the money around and put it into his own overseas trust, and then make all the preparations for physical lightning resistance；Then,Make a match for white gloves and help them change their money for a different color, or send inconvenient money out of the country, in exchange for an immortality and parole. The rotten meat can be slowly cleaned up in the pot, but the bottom line is moved when the oil and water in the pot run outside, so there is a link of arrest and sentencing.
It is nothing new for P2P companies to play supporting facilities for real estate companies, after all, everyone makes money. Now that the tall buildings have collapsed, everyone is only concerned about running for their lives. Brother Zhou and the others ran away, and the original sluggish capital chain of the real estate development company collapsed directly. I didn't expect that the bank hadn't withdrawn the loan yet, and the P2P company had come to the bottom of the pot first.
There is only a thin line between P2P and non-vacuum. The main thing is that no one can tell the difference between this blurred line. Because of desire, a lending matching platform has been made into a quasi-banking institution in actual operation, and a capital pool has been played. A series of illegal fundraising behaviors such as self-financing and false targets also exist in large numbers. These will inevitably lay hidden dangers for thunderstorms. Once the flow of funds is tight and there is a problem with the payment, it will trigger panic among investors, resulting in a run on the P2P and bursting the P2P
The poor can't avoid P2P, the middle class is trapped in financial management**, and the rich die in trusts。As long as there are risks in investment, the rich are far more risk-resistant than the poor, so people's financial management has a greater chance of winning. Take 10,000 steps back, and if you lose, you won't have to live or die, of course, I didn't say anything about irrational pressure. The poor are not rich in the first place, and it is understandable to use funds to generate passive income to make it easier. But if you just have a little capital, you won a lot of KFC, and you lost back to before liberation, is it necessary to play this kind of unequal risk?
Investment is risky, and the poor should not enter the market