In recent years, the rampant “loan sharking” in mainland China, victims from all walks of Life, many victims choose to die because they are unable to repay the loan.
The case was exposed in Lanzhou, Gansu Province, where more than 390,000 victims were involved, and 89 people committed suicide due to debt collection, with a cumulative amount of 6.273 billion yuan.
According to a March 29 report by Caixin.com, in March 2018, the 38-year-old mastermind Wang To began to conspire with several people, registered more than 20 shell companies in Hangzhou and other places one after another, using the third-party trading platform EproPay for financial settlement, and successively online operation “net cattle,” “cabbage In order to facilitate the network promotion, the company concealed the fact that it had been operating 21 online loan apps, such as “Netcow”, “White Dove”, “Eagle” and “Red Tomato”.
In order to facilitate network promotion and conceal the essence of its illegal online lending, the Hangzhou online lending company deliberately set up A/B side for each online lending App. Side A is for “rental”, “recipes”, “calligraphy”, “weather” and other daily life services that are not related to loans The B side is the real online loan content, and embedded the third-party software links such as identification and credit assessment. In order to ensure that each online loan App platform operates independently on the surface, the Ministry of Commerce of the company is responsible for registering multiple shell companies and opening accounts in the platform of EproPay respectively corresponding to the online loan App platform it operates for the settlement of loan repayments.
In order to lure people into loans, the App page claims “7 days interest-free, low interest, low threshold, unsecured, pure credit, fast lending” and other content, while the actual annualized interest rate of online loans is as high as 1303.57% to 5214.29%. When issuing the loan, the repayment period is generally agreed to be 7 days, and the loan is issued to the victim through Ebay. 20% to 50% of the interest is deducted first in the name of rent and handling fee when issuing the loan.
Before the repayment period expires, the borrower can apply for a 7-day extension and again pay 20% to 50% of the extension fee. When the victim is unable to repay the loan on Time, the company’s “collectors” use “soft violence” illegal methods to collect debts by bombarding them with abusive, threatening and threatening text messages, sending obscene or cursed pictures, harassing their relatives and friends, and exposing their address book. In addition, when sending abusive, threatening and intimidating text messages, collection agencies are required not to leave any information about the subject in the process, intentionally avoiding their responsibilities.
In March 2019, the criminal group was busted, 253 people were arrested, and 1,317 suspected illegal lending apps and websites were seized, according to Brokerage China. The total amount of illegal lending by the criminal organization reached 6.273 billion yuan, with profits of more than 2.8 billion yuan. The victims of the case amounted to more than 390,000 people, and 89 people committed suicide due to forced debt collection.
On September 28, 2020, Lanzhou City Intermediate Court made a first instance verdict, the defendant Wang Toi was sentenced to life imprisonment, deprivation of political rights for life and confiscation of all personal property for several crimes, and the remaining 18 members of the organization were sentenced to prison terms ranging from 20 years to 5 years.
For the main offender was sentenced to life imprisonment, many netizens said the sentence was too light.
Netizen “Lao Wang” said: “Life sentence is really cheap, he should be the death penalty, they harmed so many young people who are not yet involved in the world, many families are broken. It is really abominable.”
Netizen “the wind in the wilderness” that should be held responsible for the regulatory department: “Why so long no one care, watching it grow bigger, watching 89 people jump to their deaths? Someone should not be responsible for this.”
The so-called “loan” is the name of private lending, to induce or force the victim to sign a “loan” or disguised “loan” “mortgage “The “guarantee” and other related agreements, through the inflated loan amount, malicious manufacturing default, arbitrarily identified default, destroy the evidence of repayment and other ways to form a false debt, and litigation, arbitration, notarization or the use of violence, threats and other means to illegally take possession of the victim’s property related illegal criminal activities. The general term of the activities.
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