Is bank loan reversing lending "earning" high spreads? The court decision: illegal!
Xinhua News Agency, Xiamen, October 14 (Reporter Yan Zhihong) If you first borrow a loan from a bank and then change hands to lend to others at a higher interest rate, and earn a high interest margin from it, is such a "trading" legal?
Recently, the People's Court of Haicang District, Xiamen City issued a judgment on such cases.
In March 2016, Zhong Moulin, the owner of a private enterprise, borrowed 1.9 million yuan from the bank for personal housing decoration, with an annual interest rate of 6.09%.
Two days later, he lent the above 1.9 million yuan to Zhong Moucheng for a commercial project, with an agreed monthly interest rate of 2% and a loan period of 1 year.
After the loan expired, because Zhong Moucheng did not return the principal of the loan, Zhong Moulin sued the court.
After winning the case, he applied to the court for enforcement.
In February 2018, Zhong Moulin had fully repaid the bank loan of 1.9 million yuan and paid more than 220,000 yuan in interest to the bank.
But at the same time, the execution of his case with Zhong Moucheng has not yet been completed.
In October 2018, Zhong Moucheng reported to the public security organs, and the defendant Zhong Moulin voluntarily surrendered.
Zhong Moulin truthfully explained the incident and signed an implementation settlement agreement with Zhong Moulin: Zhong Moulin agreed to deduct the interest that Zhong Mocheng had paid against the principal, and waived the unpaid interest and delayed performance payment.
After investigation, Zhong Moulin loaned 1.9 million yuan and received a total of 451,000 yuan in interest and illegally gained more than 220,000 yuan.
During the trial of the case, Zhong Moulin had turned over the illegal proceeds.
After the trial, the Haicang court held that Zhong's behavior constituted the crime of on-lending usury. Although Zhong Moulin would deduct the principal from the interest collected after Zhong Mocheng reported the case, this could not change the nature of his interest margin.
Considering that it has fully repaid the principal and interest within the term of the loan contract, did not cause losses to the financial institution, and did not actually obtain additional benefits, he voluntarily pleaded guilty and pleaded guilty, which can be dealt with with leniency.
The court finally ruled that Zhong Moulin was guilty but exempt from criminal punishment, and the illegal income returned was confiscated.
The judge reminded that, according to the criminal law, the crime of on-lending usury is the purpose of on-lending for profit, arbitrating the credit funds of a financial institution and then transferring it to others at usury, resulting in a relatively large amount of illegal proceeds.
Illegal income refers to the difference between the interest earned by the borrower from usury on-lending and the loan interest paid to financial institutions.
According to relevant laws and regulations, the illegal income of usury on-lending reaches 100,000 yuan, or the on-lending usury has received more than two administrative penalties within two years, which constitutes the criminal case prosecution standard.