Hainan Federation Vice President sentenced for unlawful fund raising 880 million

On April 1, Shen Guilin was brought into the courtroom. Xinhua News Agency

Federation of Hainan Province, according to Xinhua, former Vice President Shen Guilin for illegal fund raising of more than 880 million Yuan, April 1 by the Haikou city intermediate people's Court to the crime of fraud in financing of first instance sentenced to life imprisonment, deprived of political rights for life and confiscated all his personal property.

Court found that: from 2002 to 2009, the Chairman of Shen Guilin Haikou Tate as pawns, and Tate pawn their own funds in fewer cases, through loan financing for the company's mortgage business and to repay interest on borrowings and to pay lenders to 3% monthly 2%. After 2009, Shen Guilin know pawn business difficulties, insolvency cases, by himself to solicit or company employees, friends and others to help drum up ways, in his own name, and associated companies such as Tate, Teda auction pawn guarantee, promises to pay the monthly interest ranging from 1.5% to 4%, signed the loan agreement with the others.

Meanwhile, Shen Guilin making false certificate he warrants to the lenders and real estate inspection, to easily borrow more money without withdrawing capital, lenders are also invited to watch the false auction company, construction company operating in good condition the illusion. Shen Guilin advocacy and publicity, many victims are high interest rates, by bank transfer, cash payments and other ways to transfer money to Shen Guilin personal bank accounts.

Introduction according to investigators, Shen Guilin after receiving the loan, most used to repay a previous loan principal and interest will also be money for the purchase of real estate and luxury cars, paintings and other works of art, and mergers and acquisitions to buy watches and diamond rings and other luxury items. In December 2013, several victims asked to repay tens of millions of Yuan of principal, plus huge interest payments, Shen Guilin capital chain break. For fear of things, Shen Guilin registered loan amount, payment of interest and other information after the book burning, on December 7, 2013 to carry foreign currency fled from Haikou to Hong Kong and then Thailand Bangkok, Vientiane, Laos.

The opinion of the Court, Shen Guilin with the intention of illegal possession, to pay interest as bait, illegal fund-raising amounts to 210 victims amounted to 881.82 million Yuan, victim damage caused 408,155,950, his behavior had constituted the crime of fraud in financing, should be severely punished according to law. Shen Guilin is active surrender and truthfully described his crime, has surrendered to the plot, but in view of the huge amount of funds, causing huge economic losses of victims, crimes particularly serious social harm, not punishment.

After the verdict, Shen Guilin says it will appeal.

(Editors: Liu Cheng UN649)
2016-04-02 02:12:40
Beijing times

海南工商联原副主席被判无期 涉非法集资8.8亿

4月1日，沈桂林被带进法庭。新华社发

　　据新华社电海南省工商联原副主席沈桂林因非法集资8.8亿余元，4月1日被海口市中级人民法院一审以集资诈骗罪判处无期徒刑，剥夺政治权利终身，并处没收个人全部财产。

　　法庭审理查明：2002年至2009年，沈桂林作为海口泰特典当有限公司董事长，在泰特典当自有资金较少的情况下，通过借款方式融资用于该公司的典当业务及偿还借款利息，并向出借人支付2%至3%的月息。2009年以后，沈桂林明知典当公司经营困难、资不抵债的情况下，通过本人招揽或公司员工、朋友等他人帮助招揽等方式，以个人名义，并以泰特典当、泰达拍卖等关联公司做担保，承诺支付月息1.5%至4%不等利息，与他人签订《借款协议》。

　　其间，沈桂林制作假房产证及不动产他项权证给出借人查阅，以方便借到更多款项而不抽回本金，还邀请出借人观看其公司进行的虚假拍卖，营造公司经营状况良好的假象。在沈桂林的鼓吹和宣传下，不少受害人为图高额利息，先后通过银行转账、支付现金等方式将钱款转到沈桂林个人银行账户。

　　据办案人员介绍，沈桂林收到借款后，将大部分用于偿还以前借款本金及利息，还将赃款用于购买房产及豪车、字画等艺术品，并购买手表及钻戒等奢侈品。2013年12月，多名被害人要求偿还数千万元本金，加上还要支付巨额利息，沈桂林的资金链出现断裂。因担心事情败露，沈桂林将登记借款金额、支付利息等资料的记录本烧毁后，于2013年12月7日携带外币从海口出逃到香港，并辗转泰国曼谷、老挝万象等地。

　　法庭认为，沈桂林以非法占有为目的，以高额利息为诱饵，向210名被害人非法集资金额共计88182万元，造成被害人损失40815.595万元，其行为已构成集资诈骗罪，应依法予以严惩。沈桂林虽主动投案，如实供述自己的罪行，具有自首情节，但鉴于其集资数额特别巨大，造成被害人巨额经济损失，犯罪情节特别严重，社会危害极大，不予从轻处罚。

　　宣判后，沈桂林表示将上诉。

(责任编辑：刘盛钱 UN649)
2016-04-02 02:12:40
京华时报