The 71.6 billion investment is all fake? Haiyin's wealth is difficult

The package is different

2024-06-01 09:56Posted in Guangdong financial field creators

01

Haiyin Fortune exploded

The past few years have really been the end of China's wealth management institutions.

The No. 1 middle plant system exploded. On January 5, 2024, when most people were still immersed in the joy of celebrating the New Year, the first thunderstorm of 2024 had quietly arrived.

China's largest private financial group, Zhongzhi, officially declared bankruptcy due to insolvency, and hundreds of thousands of related investors also "lost their capital".

Noah's fortune, which ranked second, exploded. Become the protagonist of the topic of "carving two radish chapters to deceive 30 billion".

Luo Jing, who was once known as the "Mulan of the business world", and her "Chengxing Department" used the background of supply chain trade with JD.com and others to defraud a number of financial institutions of a total of 30 billion yuan in financing. Among them, the loss of Gopher's assets under Noah Fortune was as high as more than 3.5 billion yuan.

At the end of last year, JD.com also issued a statement saying that Noah Fortune maliciously sued and misled investors.

The eldest and second are like this, and the third child feels that he can't be left behind after watching it.

As a result, the third-ranked Haiyin wealth also exploded.

Two days ago, the Securities Times published a blockbuster article "Periscope|Haiyin Fortune 70 Billion "Capital Pool" Investigation: Puppet Empty Shell, Cross-nesting, and Bottom Emptiness".

The content of the content is that the Securities Times reporter lasted more than 2 months, went to Zhejiang, Shanghai, Shandong, Hubei and other 8 provinces and cities to investigate on the spot, doxxing the operation mode of Haiyin Wealth, exposing the nature of fraud, which is equivalent to blasting Haiyin Wealth in front of everyone.

In fact, it is not surprising that in December last year, Haiyin Wealth had already "secretly exploded" once.

What does "Dark Explosion" mean? Put simply, the company starts not paying the money it promised to its clients. At that time, there was news that Haiyin's tens of billions of yuan of funds could not be paid to customers.

The "open explosion" means that Hywin has been completely unable to pay customer funds. It turns out that the underlying assets of Hywin are all false and have no actual value at all, which is a huge scam, Hywin is just using the funds of new customers to repay the funds of old customers, forming a pure capital plate.

How exaggerated this operation is, in simple terms:

The total scale is over 71.6 billion, and there are more than 460 products, all of which are fake!

That's right, the investment of more than 70 billion is all fake!

The funds are used for lending, and the underlying assets are "accounts receivable" and other creditor's rights assets, which is a Ponzi scheme!

02

The most exaggerated "thunder" in the capital market

The explosion of Haiyin Wealth this time is definitely a humiliation to the domestic capital market.

Because it is fundamentally different from the eldest "middle plant" and the second "Noah's wealth".

If there is a problem with the planting system, it is also fatal when it is pure. They have cooperated with a number of real estate companies, such as Huangting International, Kaisa, Evergrande, etc., and provide financial support for these real estate companies through their subsidiary Zhongrong Trust.

At the same time, it continued to increase its position in the real estate market, and took over unfinished buildings and many unsold projects at high prices, such as Zhonghong Building and Shimao Gongsan project. These projects have not yet been revitalized after the real estate market fell and the death of Zhikun. In addition, a number of real estate trust projects issued by Zhongrong Trust, a subsidiary of Zhongzhi Group, have been extended or defaulted, including projects cooperated with real estate developers such as Shimao Group, Sunac, and China Fortune.

These operations are not a problem in normal times, after all, one of the most profitable industries in the past was real estate, and capital naturally flowed to high-profit, capital-intensive industries. But they just miscalculated, and they didn't expect this round of real estate adjustment to be so profound.

And Noah's wealth belongs to being "played". Luo Jing first forged hundreds of millions of JD.com accounts receivable and prepared to sell them to Noah Fortune at a discount. Luo Jing first registered an online banking Guangdong company, referred to as online banking Guangdong. It also rented servers and databases, and together forged JD.com's supplier system platform, which contained various account periods, settlement statements, red letter notices, etc.

Noah conducted an on-site visit and email confirmation, Luo Jing directly sent a few people, through the forgery of Jingdong badges, intercepted the people in the conference room to do a wave of due diligence, and intercepted the express documents, stamped a fake seal and sent it back. Through this wave of operations, Luo Jing has accumulated more than 10 billion from Noah's wealth. Sometimes in the financial circle, your brain must be big, dare to believe that a radish chapter can make 10 billion, and you can really make 10 billion. That's how Noah's fortune was pitted.

Where is the exaggeration of Hywin Fortune this time? They were all fake from the start.

As of the end of June 2023, Hywin Wealth has 185 wealth management centers in 91 cities across the country, with more than 1,700 financial planners serving 46,600 active customers.

According to the summary information of the Securities Times reporter, the issuance time of Haiyin Wealth's stock wealth management products is basically after 2022, involving 22 issuers, with a total of 465 products and a total scale of 71.69 billion yuan.

The top three issuance scales are Shanghai Haiyi Asset Management Co., Ltd., Shanghai Luoyi Industrial Co., Ltd. and Yijia Supply Chain Management Co., Ltd., with issuance scales of 10.47 billion yuan, 7.04 billion yuan and 6.82 billion yuan respectively. Most of the other issuers raised more than 1 billion yuan.

These 22 issuers generally have high registered capital, most of which are more than 100 million yuan, and 2 even reach 1 billion yuan; However, only one of the paid-in capital is 10,000 yuan, and the rest are all 0.

The Securities Times investigation was straightforward: 21 of the 22 issuers were shell companies.

Some can't even find a registered address. For example, the address "No. 611, Sanmin Road, Zhuanghang Town, Fengxian District, Shanghai" is registered by 9 issuers and 6 SPV companies, and it is the same as the registered address of Hywin Wealth.

As a result, what I found in the industrial and commercial department was that this was a virtual registered address at all!

Some of the issuing companies with physical addresses rent a cubicle in a shared office space, with an area of less than 2 square meters, which can only accommodate a desk and a chair, and the company name is posted on the door, but no one is working.

465 products were issued through these more than 20 companies, all of which were illegal products, and there was no supervision and third-party escrow at all. The so-called fixed-income investment projects have all been filed with the fake gold exchange, and they are suspected of illegal finance and illegal fundraising, and the whereabouts of the vast majority of the funds are unknown.

What's even more excessive is that the underlying assets are almost all fabricated!

For example, raising funds in the name of investing in a real estate project, but in fact, there is no cooperative relationship with that project at all, or the funds are not in place, and the cooperation has long been terminated, but it continues to raise funds under the guise of financing.

A company like Hywin Fortune can cheat nationwide for 18 years! It's unbelievable and unbelievable!

03

Why do the old routines work?

The only benefit left of such a company may be that it does not deceive the poor, but deceives high-net-worth individuals.

But no matter what, the emergence of Haiyin Wealth, especially the continuous fraud for 18 years, deserves everyone's vigilance.

On the one hand, they do exploit regulatory loopholes; On the other hand, they are also taking advantage of the greed of human nature.

How did Hywin survive?

It's actually quite simple - the temptation of high interest rates!

The annualized rate of return of all their products is between 7% and 15%, and the interest is paid semi-annually, with a closed period of 6 months to 48 months.

As long as there are still people who buy it, and as long as there are people who are greedy for high returns and are willing to enter the market, this Ponzi scheme of raising new and repaying old ones can be played forever.

There was a case very similar to Haiyin before - the Jinhuang jewelry case, which was also sentenced not long ago.

Jinhuang Jewelry is one of the largest gold jewelry manufacturers in China.

The operation behind it is very crude: Jinhuang Jewelry pledged gold to a number of financial institutions for financing, and after the financing defaulted, it was found that the pledged gold was actually a fake of "gold and copper".

Jinhuang Jewelry relied on fake gold with "gold plated on the surface and copper alloy on the inside" to obtain financing of up to 20 billion yuan from financial institutions, and the amount of pledged gold exceeded 80 tons.

The financial institutions that stepped on the thunder include 15 financial institutions such as Minsheng Trust, Dongguan Trust, Anxin Trust and Chang'an Trust. Among them, Minsheng Trust has the highest financing scale, reaching 4 billion yuan.

Lu Zhiqiang, the head of the Oceanwide Department. It's about it.

You want other people's interest, and what people want is your principal.

That's why scammers are so unscrupulous, the market is so bizarre, what you think is the ups and downs of the business sea and the capital game, sometimes it's just more than the scammers or the fools.

After the Haiyin incident broke out at the end of last year, they proposed a "redemption plan" -

Debt in kind.

Among them, there are three packages: real estate, liquor, and health management, but the "pricing power" is in Haiyin.

For example, if you owe 1 million yuan to the investor, Hywin provides the investor with a health physiotherapy package worth 1.35 million yuan, of which 1 million yuan is used to pay off the debt, and the investor needs to pay a cash difference of 350,000 yuan.

If the investment is very large, such as 8 million, Haiyin will use a house that is claimed to be worth 10 million to pay off the debt, but you still have to make up the remaining 2 million yuan difference.

The routine is clear! It's not enough to cut once, and I want to cut it a second time.

Just by this means, the most greedy people on Wall Street saw it, and they all had to kneel down and call their ancestors.

Looking back, Zhongzhi, Noah, and Haiyin all point to a key word behind the successive thunderstorms: high returns.

In the past decade or two, the most worthwhile areas for China to invest in are infrastructure projects and real estate. Otherwise, the bank would not focus on housing loans and development loans.

However, in recent years, the infrastructure madness has died down, the real estate feast has gradually come to an end, China's highest-yielding areas have come to an abrupt end, and the capital market has fallen for three consecutive years.

Almost all financial institutions and wealth companies are facing embarrassing situations such as declining yields, user redemptions or asset explosions, and delayed product payments.

In the final analysis, no matter what financial product you are, and no matter what you think you are very optimistic about a certain variety, in fact, you don't know what the underlying assets are at all if you don't wait for the day of the thunderstorm?

What exactly did those people invest in, and even made up a bunch of assets. As soon as the capital chain is broken, they can't do it at all, and nothing is spared.

Your desires are the best bait for others!

Take care of your wallet!

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