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First Case Of P2P Self Financing Illegal Low Threshold "Gold Rush" Risk Latency

2014/7/30 17:46:00 18

Less than p days ago, the people's Court of Luohu District, Shenzhen, made a first instance judgment on the case of suspected illegal absorption of public deposits by the P2P lending platform, Dongfang venture. According to the judgment, Deng Mou and Lee, a partner of the platform, were sentenced to 3 years' imprisonment and 2 years' imprisonment for 3 years in order to illegally absorb public deposits.

according to incomplete statistics of journalists, there are 10 P2P lending platforms formally investigated in 2013 alone, mainly involving two counts of illegal fund-raising and fraud.

In addition to the judgement of Dongfang venture capital, the heads of the other 9 platforms are in the state of being arrested or wanted.

time consuming, detection difficult /p >

In the short term of 4 months, the Oriental venture capital, which was launched on June 2013 P, absorbed public deposits of 130 million yuan, involving 1325 investors.

Until October 1st last year, the platform investors had not yet raised funds of 52 million 500 thousand yuan.

then in November 2013, Dongfang venture leader Dengmou and Lee surrendered one after another.

After 9 months' evidence collection, investigation and trial, in July 2014, the people's Court of Luohu District of Shenzhen made a first instance judgment on the Oriental creation and surrender case.

in fact, before the founding of the East, many P2P lending platforms have been placed on file for investigation.

According to the statistics of zero data, only in November 2013, there were loans from Anhui and Huizhou, Jiangsu's Qian Kun loan, Shandong's Lok net loan, and Shenzhen's Pengcheng loan 5, but none of them had yet reached the verdict.

Xiao Sa, lawyer of Beijing Dacheng Law Firm, told the first Financial Daily reporters that the reason for the long time was that such cases were all involved in criminal proceedings. According to the criminal justice system in China, the general investigation stage can only be up to 7 months, plus the stage of prosecution and prosecution and the trial stage of the court. Generally, 1 to a half to two years can complete the procedure.

"in addition, the evidence collection in such cases is very difficult and time span is long. Net loan platform background data and investors in the third party payment pfer records need to correspond one by one. After investigation or Network Security Department filing, they usually have to cross province to handle cases, which is time-consuming and laborious."

Xiao Sa said.

a veteran P2P practitioner told our reporter that the problem platform which had been placed on file generally faced two difficult problems. This is also the reason why the cases are often pending: first, people are on the run after filing the case, and then the public security organs begin to want to arrest them. It is hard to say when they will be caught.

"the second situation is that people have caught, but it is difficult to obtain evidence."

The source told this reporter that because of the large number of investors involved, usually collecting evidence time period is particularly long.

According to the previous handling methods, the police will issue a notice to all investors, asking them to submit record of payment to their respective local police stations, and make notes.

"because investors all over the country, the degree of cooperation also determines the speed of evidence collection.

After the completion of this step, the police will gather all the information inside the police, and then audit the internal accounts of the platform to examine the internal staff of the platform.

After the clear context of the case, go to the prosecution process, scheduling the session, clearing assets and so on.

The above senior P2P practitioners said.

from the case of P2P lending platform which has been placed on file and sentenced, the main charges involve two categories of illegal fund-raising and fraud.

What is the difference between the two? How can investors protect their own interests through legal channels?

for this reason, Xiao SA said that the 176 criminal law crime of illegally absorbing public deposits and 192 criminal fund-raising fraud are the mainstream accusations of P2P lending platform running case.

Among them, the Oriental venture capital is the former, and the court of Youyi after a few days' court is the latter.

The difference between the two lies in the latter's intention of "illegal possession", that is to say, there is a subjective intention to occupy investors' money.

according to the insiders, the gold rush in June 2012 was 870 thousand yuan in 10 days, and then the principal responsible person was arrested for fraud.

The case was heard in Lanzhou in November 2013 and has been pronounced.

Xiao Sa believes that the current P2P lending industry is chaotic, and there are four ways to protect investors' rights and interests from the legal perspective. First, the key to business negotiations is to seize the opportunity. Once the platform has obvious signs of running or there is no connection, the local investor will negotiate with the actual controller of the platform in a timely manner as a representative, and strive for investment.

two is < a href= "http:// www.sjfzxm.com/news/index_c.asp" > civil litigation < /a >, for the platform and project side on the basis of private lending disputes, the prosecution in the actual operation of the platform or the court of the defendant's residence.

Three is the criminal report, to the police station or the location of the investor's own economic investigation department or the network security department report, the platform is usually charged with the crime of illegally absorbing public deposits and the crime of fund-raising fraud.

The four is administrative litigation, that is, when the case is obstructed or the administrative organ fails to handle the case, it will bring a lawsuit against the administrative organ to urge it to handle the case fairly and lawfully.

establishment threshold, fixed standard

according to zero one data statistics, as of June 30, 2014, there were 148 P2P problem platforms.

The number of cumulative problem platforms continued to grow, with only 10 in June alone.

From the first half year's data, Hubei, Hunan and Anhui have a higher proportion of platforms.

despite the frequent occurrence of problems on the platform, it has not hindered our enthusiasm for rush into the P2P industry.

According to statistics of zero data, in June, 53 new platforms were added nationwide, and the new cities of the platform began to spread from one tier to the three tier cities.

according to China's < a href= "http:// www.sjfzxm.com/news/index_c.asp" > P2P < /a > lending service industry white paper 2014 (hereinafter referred to as the white paper), summarizes the root cause of the past problem platform, mainly due to congenital deficiency, malicious fraud and poor management, the two major reasons for the maladjustment of the day after tomorrow.

in the aspect of malicious fraud, from the above cases of P2P lending platform registered by public security organs, "self fusion" is an important feature.

Self financing refers to the related enterprises of the P2P lending platform shareholders or shareholders, who are financing the investors as loan users, and the funds obtained are mainly used for the development of the original enterprises.

and in the aspect of poor management, the white paper shows that because the P2P lending industry has no rigid entry threshold such as operating license and registered capital, the "low threshold" brings the illusion of easy operation to practitioners who have stepped into the industry, but in fact it is a demanding industry with high technical capability and operational experience.

< < a href= "http:// www.sjfzxm.com/news/index_c.asp >" Oriental venture capital < /a > "as an example, its legal representative Deng Mou has no professional financial experience, and Li, director of operations, was born in 1985.

Due to lack of experience, soon after the opening of the platform, the bad debts were kept high because of poor management. Then Deng began to misappropriate the investors' funds to open the company and buy shops until the capital chain broke.

According to the data of zero one financial statistics, from January 2013 to the end of 6 this year, the main reason for the problem of about 30% of the P2P platforms is that the operation is not good because of the failure of the 30% platform of P.

"the threshold of entering the industry is low, which does not mean that the threshold of the operation of the industry is low."

The head of a P2P platform in Beijing told the first Financial Daily reporter that the operational risk of the P2P net loan platform is mainly reflected in the risk of lending, and the risk control of the platform is the core.

another director of the P2P lending platform said that the early stage of the P2P platform was to attract investors with high yield. The fund pool mode of raising funds first and then refunding loans, or splitting the long-term loans into short term, forming the term mismatch, including the lack of risk control ability of the operational team, could lead to the collapse of the platform.

in the face of industry chaos, more and more P2P insiders and regulators suggested that some basic access conditions should be set up to assist industry regulation.

Xiao Sa believes that the current P2P lending industry needs to balance administrative supervision and industry self-discipline.

The administrative organs should raise the threshold for the net loan platform, but this is not a cure for all diseases. It should be combined with the self-discipline of the trade associations, and adopt the net loan product registration and filing system.

the industry generally suggests that the entry threshold of P2P lending industry should be defined from the minimum registered capital, the professional degree of employees, and the qualification of major shareholders.

Take the operator as an example, the main executive team should have many years of financial experience.

and Wang Yanxiu, director of the innovation Department of the CBRC, also talked about the four major regulatory directions of P2P for the first time in public activities. It clearly mentioned the threshold of the P2P industry.

Wang Yanxiu said that P2P business is a service form that provides reference credit risk analysis as an analysis and selection of credit information. It has strong professionalism and has high requirements for the operation and management of Internet facilities.

he believes that practitioners should have basic conditions in terms of registered capital, senior executives' professional background and length of service, organizational structure, risk management, IT facilities and fund trusteeship.

The borrowers and partners involved in P2P business should have certain conditions. P2P institutions should make good risk assessment, risk warning and investment and financing quota.