China News Service, Beijing, September 28 (Zuo Yuqing) On September 25, the "Hongling" P2P platform was investigated by the police.
In more than 12 years of operation, the cumulative number of lenders exceeded 2.74 million, the cumulative loan amount exceeded 450 billion yuan, and the cumulative number of transactions reached 12.34 million Hongling Venture Capital’s violations of laws and regulations were officially notified by the police.
Over 15.6 billion yuan has not been paid
On September 25, the Futian Branch of the Shenzhen Municipal Public Security Bureau issued the "Notice on the Case of "Hongling Venture Capital", "Investment Treasure" and "Hongling Capital".
The report stated that "Hongling Venture Capital" online lending platform, "Investment Bao" online lending platform, and "Hongling Capital" offline wealth management projects are suspected of illegal fund-raising activities. The Futian Branch of the Shenzhen Municipal Public Security Bureau has recently suspected relevant personnel The crimes of illegally absorbing public deposits and fundraising fraud were filed for investigation, and criminal coercive measures were taken against the suspects involved in the case.
On September 25, the Futian Branch of the Shenzhen Municipal Public Security Bureau issued a case report on "Hongling Venture Capital", "Invest Treasure" and "Hongling Capital".
On the day of the announcement, Hongling Ventures also issued an announcement on its official website, stating that it would actively cooperate with the police investigation.
He also stated that "During the investigation, community forums, customer service calls, online customer service, etc. will all remain open."
And long before the police filed a case for investigation, Hongling Venture Capital began liquidation and payment.
"This topic (referring to liquidation) has actually been discussed in 2017." On March 23, 2019, Hongling Venture Capital's founder and chairman Zhou Shiping published in the "Hongling Community" "Although liquidated, but not to say goodbye!"
"The post officially announced the liquidation time and preliminary plan of Hongling Venture Capital, and promised that "the lender will complete the full payment within three years of all borrowings."
A brief introduction to Zhou Shiping on the official website of Hongling Venture Capital.
Three years have passed, and Zhou Shiping has not fulfilled his original promise.
The official announcement of Hongling Venture Capital shows that up to now, Hongling Venture Capital has implemented 58 redemption arrangements, and there are still more than 15.6 billion yuan to be redeemed, and tens of thousands of lenders have failed to get the money back.
The "Godfather of Internet Loan" Myth Is Shattered
As the founder of Hongling Venture Capital, Zhou Shiping was once known as the "Godfather of Internet Loan".
In March 2009, Zhou Shiping founded the Internet lending platform-Hongling Venture Capital.
In the environment where the concept of P2P network lending has just been introduced into China, Hongling Venture Capital, which implements the full advance payment and large order model, has developed rapidly and has become the leader in the P2P field.
However, after the barbaric growth, the P2P field ushered in a regulatory upgrade.
In 2016, the China Banking Regulatory Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office jointly issued the Interim Measures for the Management of the Business Activities of Online Lending Information Intermediaries, which stipulated the upper limit of the loan balance of the same borrower at the same online lending institution and different online lending institutions. Hongling Venture Capital's large order model has been hit.
After a difficult transition, in 2019, Zhou Shiping finally announced the "Three-Year Retirement Plan."
However, the redemption goal of Hongling Venture Capital's first year was not fulfilled.
Hongling Venture Capital liquidation and payment arrangements.
On December 31, 2019, the official website of Hongling Venture Capital released "A Letter to All Lenders of Hongling Venture Capital", stating that the original target of 20% for this year has been redeemed, but only 9.3% has been achieved.
In June 2020, Zhou Shiping said in an interview with the media that Hongling Venture Capital’s “three-year liquidation plan” will be difficult to complete on schedule, “a little lower than the original expectation, and about 80% of the due asset disposal task will be completed.”
On July 23, 2021, Shennan Co., Ltd. announced that it had received a notice from the family of Zhou Shiping, the controlling shareholder and actual controller of the company, that Zhou Shiping had been taken criminal compulsory measures by the Futian Branch of the Shenzhen Municipal Public Security Bureau.
The founder was taken criminal coercive measures, the company was filed for investigation, and the "Hongling Department" finally came to an end.
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