China News Service, Kunming, February 3 (Miao Chao) The Kunming Intermediate People’s Court of Yunnan Province issued an announcement on the 3rd. In order to protect the legitimate rights and interests of the participants in the fund-raising damage, the court reviewed the documents based on effective criminal judgment documents and information registration and verification. The collected funds involved in the case will be cleared and returned for the first time.

　　According to the announcement, the defendant Kunming Pan Asia Nonferrous Metals Exchange Co., Ltd. and other four companies, and the defendant Shan Jiuliang and other 21 people committed the property part of the crime of illegally absorbing public deposits and embezzlement by duty. The Kunming Intermediate People’s Court filed a case for enforcement according to law. After that, the key tasks such as asset disposal, fund collection, information registration and verification will be advanced in an orderly manner.

　　The target of this fund clearing and refunding is the impaired fund-raising participants who registered with the Kunming Intermediate People's Court "Kunming Pan Asia Nonferrous Metals Case Information Registration and Verification System" and provided a bank account for receiving the case payment or selected a periodic deposit certificate to receive the case payment.

The Kunming Intermediate People’s Court shall determine the proportion of the refund of funds based on the amount of damage and the funds that have been collected.

The specific return amount of fund-raising participants is determined by multiplying their damage amount by the refund ratio. The amount of damage refers to the amount of capital loss of the fund-raising participant, which is the transfer of the bank account to the trading platform and the transfer of the trading platform to the bank account The difference in the amount.

　　The announcement also stated that the metal goods seized and detained in the “Panya Nonferrous” case have all been realized through fair and open disposal on the online judicial auction platform in accordance with legal procedures, and shall be included in the scope of return and return after ownership screening, all shall be included in the return. The funds returned shall be returned in accordance with the determined uniform return ratio.

The Kunming Intermediate People's Court will continue to conduct ownership screening, disposal and realization of other property involved in the case in accordance with the law, and according to the fund collection situation, carry out follow-up fund clearing and refunding in a timely manner.

　　In 2019, the Kunming Intermediate People’s Court opened a trial and found that: between November 2011 and August 2015, the defendant, Kunming Pan Asia Nonferrous Metals Exchange Co., Ltd., violated national financial management laws and regulations and used rare metals to buy and sell financing. In order to promote the business of "entrusted delivery entrusted declaration" and "entrusted entrusted" business, publicly promoted to the society, promised to pay a fixed return, induced the public to invest, and absorbed huge public deposits in disguise.

Kunming Pan Asia Nonferrous Metals illegally absorbed huge amounts of public deposits, causing huge economic losses to fund-raising participants.

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