Zhang Wanping was sentenced to 18 years in first instance and illegally raised 700 million yuan under the pretext of investing in the construction of elderly care apartments. | Sentence | Zhang Wanping

Release time:Apr 14, 2024 13:19 PM

This morning, the First Intermediate People's Court of Shanghai publicly announced the defendant Zhang Wanping's case of fundraising fraud in accordance with the law. Zhang Wanping was sentenced to 15 years in prison for the crime of fundraising fraud, deprived of political rights for 4 years, and fined 5 million yuan. He was also sentenced to 5 years in prison and fined 300000 yuan for the previous crime of falsely issuing value-added tax special invoices. He was also sentenced to 18 years in prison, deprived of political rights for 4 years, and fined 5.3 million yuan.

In June 2014, Shanghai Weishi Industrial Group Co., Ltd. and its affiliated companies suffered a capital chain rupture due to operating losses and illegal sales of four industrial buildings on Changgu Road. In order to repay their debts, Zhang Wanping and Zhang Weihua, knowing that the Changgu Road factory had not yet obtained a permit for elderly care institutions, publicly claimed "government support" and concealed the fact that Weishi Group and its affiliated enterprises had huge debts. They used Shanghai Jukang Financial Information Service Co., Ltd., Shanghai Liangfeng Financial Information Service Co., Ltd., and Yixu Co., Ltd. as financing platforms to attract executives and employees to set up multiple stores in this city and Jiangsu, using methods such as distributing advertisements, organizing wine parties, and word-of-mouth transmission. Shanghai Weishi Information Technology Co., Ltd., Shanghai Weishi Elderly Care Home Co., Ltd., and other affiliated companies signed annualized returns with investors under the name of investing in the Changgu Road elderly care apartment project. Loan agreements with a rate ranging from 7% to 17% are used to raise funds from the public and allow Weishi Group to provide guarantees for the repayment of principal and interest on investment funds at maturity.

According to the audit, from August 2014 to February 2018, Weishi Group illegally raised more than 700 million yuan from over 2000 investors, resulting in actual economic losses of over 440 million yuan to the victims.

The Shanghai Intermediate People's Court believes that Zhang Wanping, as the directly responsible supervisor of Weishi Group, used fraudulent methods to illegally raise funds for the purpose of illegal possession, and the amount involved was huge. His behavior has constituted the crime of fundraising fraud. Zhang Wanping's illegal fundraising behavior has caused significant economic losses to the victims and seriously disrupted the national financial order. Based on the facts, nature, circumstances, and degree of social harm in this case, the above judgment is made in accordance with the law.

The judicial authorities in this city will continue to strengthen the recovery and recovery of assets involved in the case.

What does the turtle lock look like in the First Prison in the Far East? What is zombie bath salt? There are more exciting exhibitions here | Administrative | Shanghai | Bath Salt
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What do the locks and keys of the First Prison in the Far East look like? What is the exclusive story behind the first stock listing in New China? How did "Juvenile Offender" be "reborn" in Shanghai? How was the Shanghai lawyer appointed to defend the Gang of Four On August 16th, the Municipal Bureau of Justice organized a government open day event called "Entering the Shanghai Judicial Administration History Exhibition Room". More than 40 public representatives visited the Shanghai Judicial Administration History Exhibition Hall to gain a deep understanding of the past, present, and future of Shanghai's judicial administration. The exhibition room has 9 exhibition halls, including the Comprehensive Rule of Law Hall, the Administrative and Legislative Hall, the Public Legal Service Hall, and the Outlook for the Future Hall. There are nearly 1800 historical materials, 79 videos, and 34 interactive projects, including photos, documents, and other physical objects, showcasing the historical development of Shanghai's judicial administration in all aspects

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When it comes to prosecutors, most people's impression may be that they are "national prosecutors" handling criminal cases, dressed in uniforms, accusing crimes. In the recently popular TV series "Public Prosecution", Dilraba portrayed the prosecutor Anna in this image. In recent years, procuratorial organs have increasingly attached importance to the functions of civil, administrative, and public interest litigation procuratorial organs, and they have also formed the "four major procuratorial functions" in the new era together with criminal procuratorial organs. In the recent procuratorial competition organized by the Supreme People's Procuratorate, civil, administrative, and public interest litigation competitions were added for the first time. After fierce competition, several civil, administrative, and public interest litigation prosecutors in Shanghai have been awarded the title of business model. The story of prosecutors outside of the prosecutor is equally exciting. Through their stories, perhaps we can gain a more comprehensive understanding of the profession of prosecutors and gain a deeper understanding of prosecutors

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In recent years, short video live streaming platforms have developed rapidly. According to reports from relevant research institutions, the user base of online live streaming in China has exceeded 700 million people. Under the huge market dividend, many anchors have abundant income, which has also stimulated more young people to enter the anchor industry. Xiaoyu, who is still in college, is one of them. In August 2020, he signed an exclusive entertainment agency contract with a cultural company in Shanghai, despite his handsome appearance. However, four months later, due to frequent conflicts between the company's arranged live broadcast time and school courses, the two sides continued to experience friction. Xiaoyu had the idea of terminating the contract, and the company proposed a penalty of 9 million yuan for breach of contract. Xiaoyu's experience is not an exception. According to a review of public reports by Jiefang Daily's Shangguan News, many companies will stipulate high liquidated damages in their contracts when signing contracts with anchors.

Pay attention to safety while driving after work!, Water has accumulated in some sections of Shanghai, and rainstorm signal is encountered during the evening peak. Reporter | Road Section | Evening Peak
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Deputy ministerial level trial position accused of accepting bribes of over 83.61 million yuan, "privately sharing the honor of the Party and the country" | Individual | Bribery
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