China News Service, Shaoxing, August 17 (Xiang Jing Majie) Yuecheng Police, Shaoxing, Zhejiang, reported on the 17th that the police in many places in China jointly destroyed a criminal group that illegally raised funds and laundered money. A total of 23 suspects were arrested and the amount involved was as high as 30. Multi-billion yuan. Recently, Chief Financial Officer Wei Mou was sentenced to 3 years and 2 months in prison for money laundering and fined 3.5 million yuan.
In April 2018, during a work investigation, the Yuecheng police found that an investment company named Jiangsu Yubainian Biotechnology Co., Ltd. Shaoxing Branch in the urban area had an abnormal fund account. In subsequent investigations, it was found that it was established with another company in Beijing. There is a connection with Zhonghao Xiangyu Investment Management Co., Ltd.
After investigation, Mao Mou, the controller of Zhonghao Xiangyu Investment Management Co., Ltd., set up companies to absorb public funds across the country, and through some channels to raise the reputation of his company, and to build the image of a successful company and successful entrepreneur, he started Collect money illegally.
According to the police, Mao set up a large-scale project in Chongqing, which claims to be related to electricity. Then Mao used this project to successfully raise more than 3 billion yuan across the country. Up to now, it has been found that the funds involved in the case in Shaoxing have exceeded 100 million yuan, involving victims. There are more than 360 people. It is understood that the main focus of the criminal suspect is the pension and savings of the elderly.
After illegally collecting money, Mao transferred more than 3 billion yuan in cash to companies registered across the country. At the same time, Mao's financial director Wei was responsible for money laundering.
Between April 2018 and May 2020, a total of 23 criminal suspects were arrested by the police in many places in China. At present, the chief financial officer Wei Mou was sentenced to 3 years and 2 months in prison for money laundering and fined 3.5 million yuan. According to the circumstances of Mao’s crime, the procuratorial organ put forward a life imprisonment recommendation after review. (Finish)