Shanghai P2P platform pocket money controller Yu Lingyun, accused of “soft violence” to forcibly collect debts, last year the platform 79 people were sentenced to prison, Yu was sentenced to 18 years. Recently, the Family issued an article shouting injustice that the court froze the only housing of the family, even 2-year-old daughter was executed 3.4 billion yuan of debt, his ex-wife’s property, as well as half a century of ancestral homes were seized.
October 30, 2020, Yu Lingyun and others court picture
Family members of Yu Lingyun and others who were sentenced have set up an account on mainland Weibo called “Yu Lingyun Family. Recently, the account posted a long article titled “Taizhou Intermediate Court enforces the law in a serial manner and executes the case in a family copycat manner” to cry out injustice.
They demanded to meet with the president of Taizhou Intermediate Court, Sun Zhe, to ask questions and supervise the entire execution process, to clearly recover more than 1 billion yuan (RMB) of illegal proceeds from the victims, to strictly prevent public security and other government departments from misappropriating the execution money, to return all the illegal proceeds of nearly 3.4 billion yuan to the so-called victims, and to guarantee the rights of the executors and the lawyers representing them to fully participate in the execution, etc.
The families said that the case is currently being executed in a chaotic manner, with a number of family members having their only homes frozen and about to be auctioned off, a 2-year-old child also being subject to strapped enforcement, 3.4 billion yuan of debts being enforced, the savings of his cancerous mother also being enforced, and even his ex-wife’s property and half-century-old ancestral Home being seized. The old man and his children will be sleeping on the streets.
The article says that since February 1 this year, the enforcement judge has frozen some employees’ only houses in Shanghai and Nanjing. Some of these houses are from the Parents sold their old home retirement house and subsidized the replacement of their Life savings; some are purchased by couples who took out loans to manage their savings for years; some were purchased before joining the company.
Yu Lingyun’s wife is a teacher at a well-known university in Jiangsu, she asked the enforcement judge, if not divorced from the defendant, whether the salary as a joint family property enforcement, whether the future judge will directly deduct half of his teacher’s salary directly away? The enforcement judge replied, “Not impossible.”
The article said the judge also ruled to freeze and allocate Yu Lingyun’s 2-year-old infant daughter to bear 3.4 billion yuan in debt for her father.
Public information shows that Yu Lingyun, born in March 1981, Zhejiang, graduated from Ningbo University, majoring in information management and information systems, and received an EMBA degree from Zhejiang University. 2011, 30-year-old Yu Lingyun founded one of the first domestic Internet financial platform Wenzhou loan (later renamed Palm Cun Bao), is the earliest and one of the largest online loan platform.
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