As the financial sector of Xingwei Group, Ansin Excellence actively participates in Xingwei Group’s industrial poverty alleviation work. (Video screenshot)
After the explosion of Xinwei Group’s financial arm “Anxin Excellence”, the case was filed by 13 courts nationwide for the crime of illegally absorbing public deposits. However, the actual controller of the company is a deputy to the National People’s Congress and a star in poverty alleviation, and the case was handed over by the Beijing police to his hometown in Guizhou, without any progress, which led to questions from the victims.
Recently, the informant told the Epoch Times that the Anxin Excellence mine burst involved 26,000 families, and 14.3 billion (RMB, the same below) in unpaid debts are still unpaid. Hundreds of civil lawsuits filed by lenders across the country were ruled in their favor, but in reality, they could not get compensation.
The Anxin Excellence case was criminally filed in July 2019 at the Chaoyang District Economic Investigation Brigade in Beijing. Xiao Ji, an officer of the Chaoyang District Economic Investigation Brigade, has told more than 500 lending defenders that the 14.3 billion of lenders is only a small part of the amount, and that the derivative and rolling funds involved have been found to be about 70 billion.
The reason why the amount is so huge, the informant revealed that it is because almost all of the defrauded lenders are retired old cadres, some of whom have invested several million. “For example, one victim is a judge in Laiyang, invested more than eight million, but he did not dare to sue.”
He said, “The victims are old people in their seventies, eighties and even nineties, old party members and cadres, with official rank, who have accumulated money for most of their lives. Involving more than 20,000 families from Beijing to the country, the elderly have to rely on this money for their old age, resulting in family disputes and a series of accidents.”
Wang Wei, a native of Puding County, Guizhou, is currently a deputy to the National People’s Congress, vice president of the Chinese Civil Chamber of Commerce, vice chairman of the Guizhou Provincial Federation of Industry and Commerce, vice chairman of the Anshun CPPCC and chairman of the Federation of Industry and Commerce, and chairman of the Xingwei Group.
Ltd. was established on June 5, 2013, with his son Wang Yilu as the legal representative, and on June 23, 2016, he established Beijing Anxin Excellence Information Consulting Co.
Wang Wei’s success is inextricably linked to his “poverty alleviation” work. In the promotional video of Anxin Excellence, it is claimed that “as the financial sector of Xingwei Group, Anxin actively participates in the in-depth industrial poverty alleviation work of Xingwei Group.”
In 2015, Wang Wei invested 377 million to help the poor village of Xiushui in Anshun City to get rid of poverty and build a suburban leisure tourism base, which was later reported in a lengthy article by CCTV Finance.
Since then, Wang Wei has carried out several poverty alleviation projects with the government and donated to hope elementary school, etc. In August 2015, Anxin Premier signed a 2 billion financing service with the government of Puding County to help small and medium-sized enterprises, and in February 2017, Xingwei Group signed a donation of 100 million with Weaving County of Bijie City to help with industrial construction and a strategic cooperation agreement with Qinglong County for precise poverty alleviation with a total investment of 10 billion.
The poverty alleviation projects of both Anxin Excellence and Xingwei Group have been publicly reported. (Web screenshot)
Many investors said that the publicity, including from CCTV, made them feel justified in trusting Wang Wei, who is a deputy to the National People’s Congress and the “2015 Private Entrepreneur of the Year for Helping to Fight Poverty”.
Unlike traditional P2P, Anxin Excellence runs PCC model (PCC = P2C + Chamber of Commerce model), which introduces private chamber of commerce cooperation on the basis of Internet P2C (Production to Consumer, goods and customers, note: products are delivered directly from the producer to the consumer without any transaction links in between) operations. Its earnings annual interest rate was as high as 13%, but the good times did not last long, and on September 25, 2018, Anxin Excellence announced a benign exit, stating that the payment would be delayed for three months, and that Daxingdong, a subsidiary of Xingwei Group, would assume the guarantee of Anxin Excellence’s customer funds.
Since then, Anxin Excellence has formulated and modified the deferred payment plan several times through various ways such as deferment, interest rate reduction and debt conversion. on May 19, 2020, Anxin Excellence’s official public microblogging issued a statement, saying that the debt reduction of 4.212 billion yuan was completed through cash payment, property conversion and item conversion.
But the lenders do not recognize this, saying that it has negotiated three times and broken three times, eleven promises and eleven times breach of trust. “Various names of assets to offset the payment, including property (no license), wine, jewelry, furniture, tea, price as he said, of course, the people do not want to accept.” The informant said.
As early as October 2016, the Beijing Municipal Administration for Industry and Commerce, Dongcheng Branch of Industry and Commerce has made a penalty on the company Anxin. Beijing Industrial and Commercial East Branch [2016] No. 2171, saying that it constituted false propaganda, and the cooperative bank advertised by the party was false. And used the name or image of state organs, state organs staff.
Liu Ning, a lawyer from the Beijing Bar Association, told Beijing TV’s “Rule of Law in Progress” program that since Anxin Excellence itself has no qualification for investment and financing, the loan contracts signed with investors are illegal and suspected of illegally absorbing public deposits. For these contracts, the legal outcome should be a mutual return.
Thirteen places filed Beijing police transferred to the local
At present, Anxin Excellence has been criminally filed in thirteen regions, including Beijing, Suzhou, Fuzhou, Qingdao, Xiamen, Harbin, Jinan, Daqing, Yantai, Weifang, and Nanjing.
Anxin Excellence has been filed for the crime of illegally absorbing public deposits. (Provided by a knowledgeable person)
In March this year, Zhang Dawei, head of Anxin Excellence’s Jimo branch, and Ma Liangwei, sales director, were approved for arrest by the Qingdao Jimo District Procuratorate.
“But Wang Wei, who is the actual controller, legal representative and main person in charge of Anxin, is still at large and refuses to repay the money.” The informant said, “There are cases filed where the branch is withdrawn and returned to Guizhou. Still soliciting funds, still going on.”
What’s even more strange is that the Chaoyang Economic Investigation opened a case for 20 months without any results and transferred the case to Guizhou’s Puding County Public Security Bureau for investigation at the end of January 2021.
Beijing Chaoyang police transferred the case to the Public Security Bureau of Puding County, Guizhou, where there was no movement. (From a knowledgeable source)
“Wang Wei was not arrested, which is an exception in the case of p2p. The case was moved back to Wang Wei’s hometown and executed by the Puding County Public Security Bureau. Of course not to execute it, that is his territory, ah, he has a lot of power behind, I heard that the Minister of Public Security.” The informant said.
Recently, a letter from the Puding County Public Security Bureau replied that the company’s registered office is located in Beijing’s Chaoyang District, the company’s business activities are not under its jurisdiction, and that the lender and Anxin Excellence P2C behavior is an economic contract dispute, need to be raised to the public security organs of the case.
Lending victims went to petition, to various departments to defend their rights and complaints, only to be told by a public security director, “This is a political case, not an economic case.”
The flow of tens of billions of lenders’ funds is a mystery
The majority of the funds were alleged to have gone to Daxingdong and its subsidiaries controlled by Xingwei Group, which is a “self-financing and self-protection” after the explosion of Anxin Excellence. Liu Yongpeng, the official spokesman of Anxin Excellence, admitted in the Guizhou office in Beijing (with audio recording) that 7 billion of the funds raised went to Xingwei Group.
On October 17, 2018, Wang Wei was awarded the China “Poverty Alleviation Award”.
On October 24, 2018, Wang Wei, together with Ma Yun and Ma Huateng, was included in the list of “100 Outstanding Private Entrepreneurs in the 40 Years of Reform and Opening Up”.
In addition, Wang Yilu on March 8, 2019 as the legal representative (holding 99%) of a new registered company, Guangzhou Someone International Air Transport Co. which is alleged to have transferred assets.
According to the information provided by the informants, there are more than sixty companies associated with Wang Wei (Wang Wei’s family is a shareholder). The lending victims demanded to find out the details of Wang Wei’s poverty alleviation project funds and asked the local government to return them. Because in the eyes of the victims, poverty alleviation is to siphon off the halo of political achievements and their hard-earned money is used for poverty alleviation, causing them to return to poverty overnight.
In August 2019, Wang Wei then signed a total investment of 6 billion yuan with a tourism project in Donghai County, Jiangsu Province.
Xingwei Group signed a total investment of 6 billion yuan with a tourism project in Donghai County, Jiangsu Province. (Web screenshot)
Enterprise search information shows that Wang Wei is currently listed as a defaulted executor, with restrictions on high consumption. Last month, the equity of Xingwei Group’s Guizhou Xingwei Energy Investment Company Limited, Real Estate Development Limited Liability Company and Cultural Development Limited Liability Company were frozen.
The reporter repeatedly called the chairman of the Xingwei Group of companies and sent text messages to ask the reasons for the withdrawal of the platform and the flow of lenders’ funds, but received no response, and the phone tone was always “on hold”.
The official WeChat of Anxin Excellence released the latest debt solution on February 5, saying that the revitalization of the Daxingdong project was blocked and a new company was set up by a new partner with Daxingdong, one of the shareholders of the Hong Kong main board listed company with strong strength, to protect the equity rights of Anxin Excellence customers.
The latest debt solution of Anxin Excellence. (Web Screenshot)
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