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Collapse retail investors stuck

As of July 11 this year, Shenmu County Court handled 2,771 cases of private lending disputes this year, exceeding the figure of 2015 last year. This year, on July 15, Shenmu County, Shaanxi Province, gathered in the square and again brought Shenmu's private lending to the cusp. Pieces, more than four times in 2011. In recent years, Shenmu presents the trend of raising funds for all citizens. It is evident that Zhang Xiaochang was apprehended at the end of last year when the capital of Shenmu billionaire Zhang Xiaochang borrowed money to break the capital chain. As a result, the private lending market collapsed as the largest amount hitherto so far involved Of the capital raising fund for the speculation of gold and silver. Zhang Xiaochang borrowed funds totaling 10.1 billion yuan, involving 1380 people involved in loan-related companies, 56 companies involved, and many of the government officials behind them are also involved. More insider pointed out that Zhang Xiaochang to a total of 70 million yuan of collateral to the bank loans 400 million, and bank operations irregularities, and let Zhang get 400 million loans July 12, Shaanxi Province, Shenmu County, Li Xiaohua received a SMS, 'Shenmu economy plummeted, Shenmu people to account, triangle debt you dragged me, the incumbent leader should not be liberated, is scheduled to be held in the square at 10 o'clock on the 15th' three days after Li Xiaohua participated in the rally opposite the county government People's Square, thousands of people gathered. They heard that Shenmu's finance vans earrings replica had been squandered and that the county party secretary Lei Zhengxi, like Li Xiaohua, was the only one in the private lending crisis before he was transferred to solve the problems of various problems in the county. , They are all creditors, borrowers called Zhang Xiaochang Xi'an, an official told the Beijing News reporter, he saw a review of the data shows that from November 2008 to December 2012, four years, Zhang Xiaochang a total of lending funds 10.1 billion yuan, involving 1380 people involved in loan-related companies 56 By the end of 2012, Zhang Xiaochang capital chain fracture. This by the public fund-raising speculation gold and silver Shenmu large, its own 'Golden Empire' collapsed overnight, causing many creditors to panic December 1, 2012, the capital pyramid collapse. Zhang Xiaochang closed Jindian, fake van earrings Xi'an overnight departure. In Lijia Village in Xi'an, two comrades in close contact with Zhang found him and persuaded him to return to Shenmu to solve the problem. The next day, Zhang's relatives George State alerted Shenmu County Public Security Bureau

July 17, Shenmu official media briefing: deficit one is out of nothing, the current combat and illegal fund-raising in the county are being carried out in an orderly manner December 1, 2012, almost overnight, Li Xiaohua Zhang Xiaochang to see the three gold All the stores closed, the counter disappeared of gold, dozens of borrowers around the store, only to find a major event as retail investors, Li Xiaohua had lent to Zhang Xiaochang 1 million yuan, Zhang given the monthly interest rate of 3% At that time, the bank was only about 0.7%. Feng Xi, who had lent Zhang Xiaochang 600,000 yuan, belonged to the small fish shrimp in the tide of borrowing. On November 20 last year, Zhang Xiaochang's nanny took more than 50,000 stores from his shop in New Century Plaza. Yuan of gold; November 30, a retail account took more than 2,000 grams worth 750,000 yuan of gold; Zhang Xiaochang's parents also took away part of the gold bars and bracelets 2012, the coal market downturn, the price from 2010 each Ton more than 600 yuan down to more than 400 yuan, Shenmu some large coal mining companies require withdrawal of funds from Zhang Xiaochang. In addition, Zhang Xiaochang once lent to the coal bureaus who need cash van cleef lotus earrings replica flow at a monthly interest rate of about 5%. Some coal bosses also failed to repay short-term loans. In addition, gold prices continued to fall. Zhang's gold and paper-silver businesses suffered serious losses and became increasingly powerless Repay the huge interest December 1, 2012, the capital pyramid collapsed. Zhang Xiaochang closed Jindian, Xi'an overnight departure. In Lijia Village in Xi'an, two comrades in close contact with Zhang found him and persuaded him to return to Shenmu to solve the problem. The next day, Zhang's relatives George State alerted Shenma County Public Security Bureau to a comrade in arms that Zhang Xiaochang rented a car in Xi'an for fear of being blocked by retail investors at Yulin Airport and was controlled by the police after arriving Shenmu at night on the 5th. On January 16, 2013, the police lifted the residence of Zhang Xiaochang for surveillance and transferred to criminal detention. On February 2, the Procuratorate arrested Zhang Xiaochang for arrest. In order to fill the deficit, the same day, ICBC pledged 3.3 tons of gold pledged by Zhang Xiaochang, and the Big Five subsequently sold over 120 tons of paper and silver under the name of Zhang Xiaochang. Two sell-offs, the bank and the top five were a total of 1.9 billion

Ming Jian Forensic Laboratory identified: Zhang Xiaochang accumulated losses of 4 billion, of which the speculation of gold and silver loss of 100 million, interest payments over 3.8 billion yuan; Zhang Xiaochang equivalent to 440 million assets, owed 431 retail investors principal 1.2 billion. In addition, Zhang Xiaochang name there are 1.2 billion unknown outflow of funds, including not to break into his son Zhang Peng and daughter-in-law's account of 280 million yuan in Beijing has 41 properties known for the country's 'sister' Gong Ai love, have also been hands Loan Zhang Xiaochang 120 million yuan In Zhang Xiaochang's list of creditors, the Industrial and Commercial Bank of China Shenmu branch and dozens of large is the main lending. Shenmu Branch has lent 800 million; only cattle, Guo Zhenjiang, Zhang Zhenping, Zhang Heping, Niu Yong five big, they lend him 1.3 billion. At the same time, these five large owners also hold Zhang Xiaochang paper silver account and password According to an informed source, these large mostly coal mines, pawn shops and business big boss, but also part of Shenmu County retired officials, as well as with current officials Zhang Xiaochang close after the incident, the relevant departments did not immediately freeze the assets of Zhang Xiaochang to fill a deficit, the same day, ICBC pledged 3.3 tons of gold pledged Zhang Xiaochang, the five families then also named Zhang Xiaochang more than 120 tons of paper Silver sold out. Two sell-offs, with a total of 1.9 billion comrades-in-arms now being completed by banks and five major groups, said that the Big Five did not know how to sell paper and silver online and the selling lasted until December 10.

The Wall

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