Shenzhen Maverick Capital Group Limited, once one of the largest P2P platforms in Guangdong (web photo)
In 2020, a variety of platforms thunderbolt news constantly, there are P2P, there is speculation in foreign exchange, speculation in oil, do apartments, and the beginning of this year only two weeks, there is another hundred billion platform thunderbolt, completely can become the first thunderbolt of the New Year. Today, we will talk about this topic and analyze together the macroeconomic background and pitfalls behind the lightning explosion, and what we have to do to prepare in 2021.
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January 13, Shenzhen Economic Investigation issued an announcement that Maverick Capital Group Limited (“Maverick Capital”) is suspected of illegally absorbing public deposits, including Maverick Online, Maverick private placement platform, the police in Shenzhen Nanshan suspect involved in the case of Maverick Capital to take criminal compulsory measures according to law. This means that this 100 billion level P2P investment platform was officially detonated.
In June 2013, the Maverick online platform was launched and operated. Maverick Capital’s official website introduces that it was established in 2012, and its platforms include Maverick P&W, Maverick Online, Maverick New Wealth, Maverick Investment and Maverick Dingfeng Technology; it is involved in P&W finance, wealth management and investment management business. Up to now, the platform has a cumulative turnover of 117.174 billion yuan, a cumulative lending of 15,783,100, a cumulative registration of 6,081,500 and a cumulative lending of 859,400. The current lending balance is 10.4 billion yuan and the number of lenders is 110,000. Such a platform size in these years of P2P lightning bursts are ranked, which means that this platform was pitched to people may be around 110,000, which is not a small number. Another group of financial refugees is officially born!
Let’s take a look at the routines and some of the shady aspects of this platform’s mine-out, and see how the investors’ blood and sweat was actually drained.
In fact, as early as May 9, 2020, Maverick Online released on its official website “platform online lending business benign exit announcement”, and promised benign exit period, the platform shareholders and executives do not run away, do not lose contact, do not withdraw their capital. Now it seems that the original benign payment promise is a first to stabilize investor sentiment, behind the slow transfer of capital lies. Just over half a year’s time, the official mine-burst default, the original benign payment promise is a complete sham.
In fact, after August 2018, Maverick Online has been signs of return difficulties, when a number of investors reflected that the expiry of financial products can not be withdrawn. Maverick online investors have repeatedly published their claims, but never received a positive response. And in the return of the difficulties of more than a year, Maverick Online is still trying to regain the momentum, the launch of loyal powder value, new products such as Youxiang cattle fund-raising, but the results are not good.
It is understood that the main core children of Maverick Capital have companies Maverick Online, money jar, Maverick New Wealth (i.e. Maverick Private Equity), these are the fund-raising end of Maverick Capital. Among them, the money jar was formally filed for investigation as early as September 2018, and on September 28 last year, the Shenzhen Nanshan District People’s Procuratorate issued a notice that the suspects Zhang Xiang, Jiang Zai Chen and eight others suspected of non-sucking had been transferred to the hospital for inspection and prosecution. It is noteworthy that the notification pointed out that the money jar took fake bids to illegally raise about 1.5 billion yuan, and all the money raised was deployed and used by the Maverick Capital Group, with a total of over 1.8 billion yuan in principal and interest.
It is reasonable to say that after the money jarzi accident in September 2018 to open an investigation, the police should open an investigation into the Maverick Group together. After all, the money raised by the money jar was given to the Maverick Capital Group in use. Therefore, the money jar to the lender’s funds to pay off the gap, all should be repaid by the Maverick Group funds, this is the correct way to deal with. But at that time, only the subsidiary money jar was investigated, and no case was opened to investigate the Maverick Group.
In 2019, the Maverick Group’s Maverick New Wealth broke out as a massive overdue, and many branches were filed by the police for allegedly illegally absorbing public deposits, and the group’s asset side “Maverick Puhui” has basically stopped lending since the end of June 2018.
This can be seen in the maverick group in the official lightning burst in the previous two years, the maverick group below the financial products have been in trouble. This is the main reason why today the Maverick Group officially thundered, and pitted a lot of people, it is likely that the Communist Party’s public security department and the Maverick Group have a transfer of interest. Now, many P2P platforms across the country are basically a joint venture between private individuals and the government, and many of the fraudulent amounts are split between the platform and the umbrella government public security department or officials behind it. When the P2P giant group loan network is still the ability to repay when the assets were transferred, forcibly detonated, and finally left all over the group loan network victims at home and abroad to seek justice. Recently, it has also been reported that some fallen officials are shareholders of P2P platforms. So, the essence is that the officials and bandits together to harvest the ordinary people.
Maverick Online side said on January 12 this year, since May 9, 2020 announced benign, the platform has started the tenth phase of the payment work, benign retreat since the cumulative payment of 238 million yuan. And according to the data disclosed when the platform announced the good retreat (May 9, 2020), its lending balance at that time was 10.42 billion yuan. 8 months of time, 10.4 billion of the lending balance, only 238 million was paid out, the payout ratio is only about 2.2%, this ratio is really too low.
Some users reflected that they borrowed more than 10,000 yuan to Maverick Group, but in the six months of rigid payment, only received 58 yuan of interest, which is basically a no-cost loan. Now it seems that, not to mention the 58 yuan of interest, is to lend out hundreds of thousands of principal may become a problem. And with the platform mined out, more and more people like this.
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Review the brief history of P2P lending in China, but more than 10 years of time. Ten years from nothing to have to crazy, and finally to zero. The Chinese play everything in a flurry, and eventually play badly until.
From 2006 to 2011 was the budding period of P2P, from 2012 to 2015 entered a period of brutal expansion, and from 2016 to the present is the period of rectification and standardization and liquidation of P2P. According to statistics, more than 10,000 P2Ps have come online in the past 14 years, with more than 5,000 operating at the same time at the peak, with an annual transaction size of about 3 trillion yuan and a high rate of bad debt losses. Through continued cleanup and consolidation, the
On November 27 last year, Liu Fushou, chief lawyer of the CBRC, said in a public forum that “the risk of Internet finance has been significantly suppressed, and the actual number of P2P online lenders operating nationwide has been gradually compressed from about 5,000 at the peak, and has been completely zeroed out by mid-November 2020.”
The online lending industry consolidation gradually kicked off at the end of 2017, and in January 2019, the regulator issued the “Opinions on the classification and risk prevention of online lending institutions” (proposing that online lending institutions “can be retired as much as possible, should be shut down as much as possible”. In the industry’s view, the 175th document also points out the possible direction of transformation for the online lending industry – to obtain the business license qualification of network microfinance or consumer finance companies, to become the lending platform side.
It is reported that platforms such as PAPER, you and I, and letter also technology have already announced the completion of the withdrawal, transformation help lending platform or financial technology enterprises. Previously the largest P2P platform Lufax proceeded to stop using individual investors’ funds as a source of credit funding and clean up online loan assets in August 2019, when the balance of P2P business was about 160 billion yuan, further reduced to 47.8 billion yuan at the end of June 2020 and about 20 billion yuan in size at the end of December 2020. Currently Lufthansa has applied for the establishment of Ping An Consumer Finance Company to continue its consumer credit business. It is also listed on the New York Stock Exchange.
But the companies that can really achieve transformation are a minority. Among the tens of thousands of P2P platforms, these few are the companies that can wipe their asses clean and get out in one piece. More often than not, they explode in their own lightning, and then take over tens of thousands of hundreds of thousands or millions of investors. For example, the group lending network, point finance, love money into, Fanpu credit, lazy investment, credit treasure, these once when the boom in the financial platform, basically again after the lightning explosion has disappeared. What remains is a drained investors and collapsed families, their tragic story continues.
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At present, China’s macroeconomic downturn, the real depression, the debt crisis from the financial sector spread to all aspects of the entity, from the government to enterprises to individuals, everywhere can not pay off the debt. At the same time, there are fewer and fewer channels for investment in the market, which is what the media call asset shortage, and everyone wants to invest the money in hand to gain income. So, as long as you hear of any money-making projects, is also hungry, a swarm of pounced on, not to seriously investigate, and regardless of whether these projects are true or false, will be their life’s hard-earned money into, and ultimately blood is inevitable, and some even killed themselves.
In 2021, we must pay attention to control their own hands, control their desire to make money, especially on the various so-called “money-making projects” in China, must be more than one eye, more investigation, rather than miss, not to do wrong. In 2021, as long as you do not get pitted, you are making money.
Many people are easily tricked, there is an important reason is speculation, get something for nothing, get rich overnight, take advantage of the psychology at work. The author has said many times before, China’s past 15 years is the time to make money, the 15 years within the conservative people have suffered losses, missed the best time for real estate, investment in industry, those who move with the momentum of China’s accession dividend are making a lot of money.
And from 2016 onwards, is the time to keep the money, these years if you move against the trend, against the sky, must go to make money, the result is bound to be blood, like the two years squeezed into the speculative building, like the 2015 into the stock market speculation, like the two years touched the P2P tide of lightning burst, many are lost, difficult to turn around.
So this time, investment must choose a stable product, capital preservation type products, try to touch less domestic stock market, real estate, wealth management, speculation in foreign exchange and other aggressive investment varieties. A careless fall into the pit, may not be able to climb up for life.
This time the hundred billion Shenzhen P2P platform Maverick Group thunderbolt, hundreds of thousands of people stepped on the mines, tens of billions of dollars down the drain, it can be said that the impact of the collapse of a medium-sized bank is just this, but the Chinese Communist Party still take the financial stability approach, these victims of the funds can not be chased away, their rights and interests are not protected.
But this year, they must have a bad year, many of them may be miserable for the rest of their lives, will become the object of petitions to maintain stability. The previous car’s overturn, the next car’s lesson, I hope we are careful in 2021, guard their hard-earned wealth!
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