2 1 Century. com Core Tip: With the spread of the huge bad debt crisis in Xiamen Rongdian, the underground financial food chain related to it began to panic.
In Xiamen in June, there was a kind of restlessness.
With the outbreak of the huge bad debt crisis of Xiamen Rongdian Financing Guarantee Co., Ltd. (hereinafter referred to as Xiamen Rongdian), the underground financial food chain related to it began to panic.
"There have been a number of guarantee companies that have successively exploded usury problems, and even bank presidents have been involved." The source told 2 1 century. com reporter.
According to the source, a vice president of a foreign-funded background bank branch located in Hubin North Road, Xiamen, has fled with money and is suspected of defrauding huge private usury funds.
"The guarantee companies that have recently experienced problems involve billions of yuan." The above-mentioned person said, "This domino effect is still going on, and the hole is definitely getting bigger and bigger, but it is still impossible to estimate how much money and how many people will be involved."
However, 2 1 Century. com reporters visited the units and relevant departments involved in the rumor, and the staff members were evasive and refused to interview. As of press time, the local official has not officially announced the news, and it is impossible to get an exact statement from the official.
3.7 billion black holes
The fuse of the incident originated from the financial black hole of Xiamen Rongdian.
"On the first working day after the May Day holiday this year, a creditor of Xiamen Rongdian led a group of people to collect debts and shouted at the door of the building with a tweeter. The creditors of Xiamen Rongdian were alarmed." A creditor of Xiamen Rongdian told the reporter of 2 1 Century Network.
According to its introduction, the creditor who set off the debt storm in Xiamen Rongdian was a native of Nanping, Fujian, surnamed Zheng. In 2008, he lent 8 million yuan to Zhong Mingzhen, the boss of Xiamen Rongdian. Because the interest was owed this year, it was fruitless. Finally, he copied the plot of Hong Kong movies and made a scene. Before, Zhong Mingzhen always paid interest on a monthly basis.
As a result, creditors rushed to the door, and Xiamen Rongdian's secret capital chain, which had been painstakingly managed for many years, collapsed overnight, and it was widely rumored that its debt was as high as 3.7 billion yuan.
"The collapse of Xiamen Rongdian is not good for anyone. The creditor surnamed Zheng has made everyone miserable." The above-mentioned creditor said, "Before this, a bank in Xiamen has promised to give a credit line of 300 million yuan. As long as this money is available, the crisis of Xiamen Rongdian can be lifted. Now that the loan is gone, the company's business has completely stagnated."
According to the hidden rules of private lending, as long as the lender can settle accounts and pay interest on time, the game will continue, and the lender doesn't care about the lender's robbing Peter to pay Paul.
There are different legends about which bank is going to lend to Xiamen Rongdian.
As for the cause of Xiamen Rongdian crisis, Zhong Mingzhen said that this year, the relevant departments raised the entry threshold for financing guarantee companies, requiring the registered capital to reach 1 billion yuan. Therefore, Xiamen Rongdian began short-term high-interest loans to make up 1 billion yuan to change it into a financing guarantee company. The business scope and loan guarantee multiple of financing guarantee companies are better than ordinary guarantee companies.
However, this statement has been dismissed as nonsense by many people in the industry. "Xiamen Rongdian has been borrowing from foreign countries with high interest rates since 2008, and changing to a financing guarantee company just wants to make the cake bigger." A local "gold owner" (private lender) in Xiamen said.
A creditor surnamed Wu in Xiamen Rongdian also revealed that after the Xiamen Rongdian crisis broke out, Zhong Mingzhen's brother Zhong Mingyi, sister-in-law and husband Chen Gang had disappeared. The reason why Zhong Mingzhen was left to deal with the aftermath was because she was pregnant and the creditors were too tight to run away.
"Zhong Mingzhen originally planned to have a baby in Hong Kong, but in the current situation, creditors will not let her leave Xiamen." Wu' s creditor said.
However, Zhong Mingzhen, who has been pregnant for 8 months, declared that she would not run away, hoping to determine the debt settlement plan before the birth of the child with the help of a lawyer specializing in the disposal of non-performing assets.
No matter what the truth is, compared with other debtors who walked away from similar incidents, the creditors of Xiamen Rongdian still have a glimmer of hope.
The person in charge of this matter is Fujian Tiankai Law Firm. Lawyer Zhou Hui, a partner of the firm, said that the creditor is currently negotiating with the debtor, hoping to reach a suitable solution through this negotiation, which will serve as a model and reference for similar incidents in Xiamen. However, Zhou Hui is unwilling to disclose the details of the crisis in Xiamen Rongdian.
"Xiamen Rongdian's debt is as high as 3.7 billion yuan, of which the principal of the loan is about 800-900 million yuan." The above creditors said.
The statement that the principal of the loan was about 800-900 million yuan was confirmed by another creditor surnamed Chen, but he told reporters that the actual debt was not 3.7 billion yuan, and after deducting water, it was almost/kloc-0.7 billion yuan.
Whether it is 3.7 billion yuan or1700 million yuan, except the principal of the loan, the difference is the high interest generated by the loan.
"The difference between 3.7 billion yuan and1700 million yuan should be the difference in interest level. It is likely that the lender took the initiative to cut the interest rate and the interest rate of private lending higher than the national regulations after the crisis." The above-mentioned Xiamen "golden master" said.
However, the reporter asked a number of Xiamen Rongdian creditors, and the other party avoided talking about it or ignored it. There is no clear answer to the whereabouts of the loan.
"If calculated according to the principal, there is still a gap between Zhong Mingzhen's personal assets available for disposal and the creditor's principal cannot be fully recovered." An employee of Xiamen Rongdian said, "Zhong Mingzhen has two large-area properties and 100 mu of land, as well as some assets under other people's names."
However, some creditors revealed to the reporter of 2 1 Century. com that after investigation, they found that most of the assets mentioned by Zhong Mingzhen were already in other people's names and had been mortgaged repeatedly. For this reason, there was also disagreement among creditors.
"The Xiamen Intermediate People's Court has received more than a dozen cases, mainly to preserve collateral." The person said, "There are hundreds of people on the list of creditors, and some people with collateral are not on the list."
Daily interest 1%
How can Xiamen Rongdian "circle" these huge sums?
According to industrial and commercial data, Xiamen Rongdian was established in September 2008, with a registered capital of102 million yuan. Zhong Mingzhen, born in 1979, holds 49% of the shares, and Xiamen Guangyuanxin Trading Co., Ltd. holds 5 1% of the shares, with Zhong Mingzhen as the legal representative. Xiamen Guangyuanxin Trading Co., Ltd. is owned by Zhong Mingzhen's family.
In Xiamen Rongdian, it was publicized that the company was a project of attracting investment from Siming District of Xiamen in the 12th China International Investment and Trade Fair in September 2008.
"It is a common phenomenon for guarantee companies to sell dog meat in private, that is, to absorb private funds at a rate of return several times higher than the bank's deposit interest rate during the same period, and then lend at a high interest rate to earn a rich interest margin." According to sources, "Xiamen Rongdian's huge debt is actually Zhong Mingzhen's personal loan, and Xiamen Rongdian is only a guarantor."
Many creditors also confirmed that the borrower was Zhong Mingzhen, but the official seal of Xiamen Rongdian as the guarantor was stamped on the loan.
"Before, Zhong Mingzhen was very trustworthy, and the interest was paid on time. The money I lent her was 2%, 4% and 5% monthly interest in different periods." A creditor said.
The rapid expansion of Zhong Mingzhen's private lending scale is inseparable from dazzling ostentation and extravagance and gorgeous coat.
"To do money business, of course, people should believe in their own strength." The above-mentioned source said, "Anyway, we all use other people's money to attract more funds."
Many creditors still remember it. At the end of last year, Xiamen Mingyi Group held a celebration for its establishment. Not only Sun Nan, A Duo and other stars from the three sides of the Taiwan Strait were invited, but also some government officials and celebrities from all walks of life in Xiamen came to join in.
"The venue of the celebration is located in a mountain villa on Huandao Road in Xiamen, where many national leaders have stayed." The above-mentioned source said, "Xiamen Mingyi Group is named after Zhong Mingyi, Zhong Mingzhen's brother."
Not only that, the office of Xiamen Rongdian has previously moved from a corner of Haicang to the headquarters building of Xiamen Bank on Hubin North Road in Xiamen Island.
2 1 When the reporter from Century Network visited here, he saw that the office space of Xiamen Rongdian, located on the third and fourth floors of the headquarters building of Xiamen Bank, was luxuriously decorated and a Buddhist temple was set up in the office area.
"There used to be more than 60 people working here, and the treatment was relatively high in the same industry in Xiamen, but now there are only a few people left, mainly financial personnel to stay behind." The left-behind staff of Xiamen Rongdian said, "It costs several million yuan to decorate here, and the monthly rent is 200,000 yuan to 300,000 yuan. At present, the rent owed to the owners is more than 500,000 yuan."
According to sources, what got Xiamen Rongdian into a quagmire was that last year, Xiamen Rongdian lent 30 million yuan at high interest to a metal products enterprise in Longhai, Fujian, which is adjacent to Xiamen, to repay the due bank loan, and it was agreed that the enterprise would borrow money from the bank and return it to Xiamen Rongdian with interest. Unexpectedly, after the bank loan was repaid, it could not borrow again. Finally, it had to adopt the way of debt-to-equity swap, and Xiamen Rongdian reinvested10 million yuan plus the original one.
"This enterprise produces non-stick pots, aluminum, stainless steel products and other kitchen utensils, which are mainly used for export. However, after the acquisition, it was discovered that this enterprise has many invisible debts, with a total debt of more than 50 million yuan, which makes the burden of Xiamen Rongdian even heavier." The source said.
After the break of the capital chain, the overwhelmed Xiamen Rongdian is preparing to move back to Haicang.
"When I borrowed money, I boasted that the company was doing this project. In fact, it was a scam from beginning to end, and the company had no business at all." A creditor revealed that "the monthly interest rate of loans in the later period is above 5%, some as high as 20%, and even there are loans with daily interest 1%."
The creditor believes that the huge money black hole generated by Xiamen Rongdian is rooted in robbing Peter to pay Paul. The longer it takes, the bigger the hole will become. In addition, the expenses of daily office, reception and employees' salaries will require a steady stream of funds to keep it running. Even if the original creditor finds the problem, it can only keep it a secret because it has been deeply locked in, so that it can continue to fool others into coming in to get rid of it.
"It's only a matter of time before the outbreak, but I didn't expect it to be so fast," said the creditor. "I thought that with the backing of the bank, I could return to my capital in two years at most as long as I just took interest, but with all this noise, my hope was dashed."
What makes some creditors feel aggrieved is that they reported the case to the public security organ after they had no hope of recovering it, but they were unexpectedly shut out.
"Since mid-May, more than 30 people have reported to the public security organs, and they have not filed a case, even the materials have not been collected. We have all been to the provincial offices, municipal bureaus and sub-bureaus." The above-mentioned creditor said, "With this delay, many assets have been transferred. We went to the Housing Authority to check. Zhong Mingzhen's property in a building near Xiamen Sports Center was sold to a farmer as early as April 13."
The creditor said that some influential people also gave Zhong Mingzhen a huge amount of shady money to grab high interest rates, and maintaining this stalemate is conducive to their withdrawal of funds.
The vice president absconded with the money
"The Zhong Mingzhen incident only opens a gap, and more companies and bank staff involved in" reverse lending "will emerge with the domino effect." The source said.
According to its disclosure, guarantee companies and other enterprises can absorb huge amounts of money from the private sector, which is inseparable from the cooperation of bank staff. "Many large sums of money enter guarantee companies and enterprises, which are inseparable from bank staff acting as brokers, and bank deposits are therefore moved."
The specific mode of operation is that bank staff introduce customers to enterprises as middlemen or guarantors with much higher deposit interest than the same period of the bank as bait, and take a high commission. And bank staff are most familiar with which customers have deposits and idle funds.
Recently, the vice president of a foreign-funded background bank in Xiamen absconded with money in a branch in Siming District, which was widely discussed in Xiamen, is typical.
"This vice president has been acting as a broker for many years. This time, he has been absconding with money for a long time. It is said that the huge capital problem that occurred in a financing guarantee company with a state-owned enterprise in Xiamen is also related to him." The above sources said.
It is said that the vice-president introduced a large number of customers to lend money to enterprises at high interest rates on the grounds that Xiamen Xianchu Trading Co., Ltd. needed capital turnover and project investment. He used his personal name as a guarantee, and sometimes even issued a letter of commitment for the enterprise with the official seal of the branch to prove how much money an enterprise had in the bank. If the other party could not repay the money within the agreed time, the branch would be responsible for returning the money to the lender.
"This trading company has borrowed hundreds of millions of private funds in this way, but its staff said that these are all personal loans, which have nothing to do with the company. At present, the specific creditor information is still being verified by statistics. The largest lender has lent more than 100 million yuan, mostly short-term loans, with a monthly interest rate of 3% to 6%. Previously, the borrower's credit was so high that many people added the loan amount." The above-mentioned source said, "The vice president has been missing since the beginning of June, and now creditors have gone to the bank."
According to the above-mentioned sources, whether the bank is responsible lies in the authenticity of the official seal on the letter of commitment issued to the lender, and according to the creditor's claim, some loan agreements were signed in the branch.
"The behavior of bank staff acting as private usury brokers is particularly obvious this year. The staff of a branch of a well-known domestic joint-stock bank in Haicang, Xiamen, came to me three times and said that he would introduce customers to me." A creditor of Xiamen Rongdian said, "Many people around me also have this kind of experience, and have made many transactions. As a lender, I still trust the bank staff."
2 1 Century. com reporter found a bank employee who had just washed her hands recently. Unlike other brokers, she directly acted as a lender, mainly by absorbing private funds, and then concentrated on lending to enterprises or individuals who needed funds to earn interest margins.
"Last year, the monthly interest on raising funds from others was about 1.5%, and the maximum interest generally did not exceed 2%. Some people gave annual income of 15%, and the monthly interest on lending was generally 2% to 3%." She said, "This year's lending interest is terrible, at least 3% per month, 5% is very common, and sometimes it is 10%, and all of them are short-term loans, and the interest is paid monthly."
She also revealed that being a lender as a bank employee has natural advantages, and the information of borrowers is relatively well understood, and the investors are quite at ease. Even the lenders in the society are mostly related to banks.
"It's exciting to make money in this business, but I dare not do it now. The interest is so high and the risk is too great. I'd better accept it if I see it." She said, "If there is a big bad debt, we will not only post back what we earned before, but also keep borrowing to fill the deficit, and we must never make a secret. Once the capital chain is exposed, it will be interrupted, but even if it continues, we are often eager to pull it back and ignore the risks, and the result may be desperate."
In fact, 2 1 century. com reporters found that due to macro-tightening and tight loans, enterprises have generally encountered the test of financing difficulties and rising financing costs.
"Now the situation of' waiting for loans' is very serious. Even if the bank promises to give loans, it will not be available for two or three months." Many interviewed companies reported that "moreover, banks will charge miscellaneous fees in disguise, or require some loan funds to be converted into deposits, or require the purchase of designated wealth management products, which will greatly increase the cost of loans, but as long as they can get loans, they already feel very lucky."
During the period of applying for loans, some bankers will take the initiative to bridge the gap for enterprises. As long as there are good collateral or guarantors, it is possible to guide and promote enterprises to borrow at high interest rates.
"We know that there are tigers in the mountains and we are biased towards the tiger mountain." The founder of a small business in Xiamen said, "Borrowing usury is tantamount to drinking poison to quench thirst. If you don't borrow it, you can only watch your business enter a dead end."
Lawyer Zhou Hui, a partner of Fujian Tiankai Law Firm, also believes that in the existing environment, SMEs borrow money to die, and if they don't borrow money, they will die.
This tightrope dilemma is like a curse, just as the spread of cancer cells breeds a complete usury food chain, which also encourages one almost identical scam after another.
latent crisis
The waves caused by Xiamen Rongdian and the vice president of a bank branch are still spreading.
"In addition to Xiamen Rongdian, there are at least two guarantee companies that are currently in trouble in Xiamen, and one of them is rumored to involve an amount of 3.75 billion yuan." According to sources, "it's all usury that leads to bitter fruit."
But the rumors have not been confirmed from official channels so far.
"Xiamen is setting up Jinyuan Investment Company, the purpose of which is to integrate the state-owned guarantee companies in Xiamen, so as to change the current situation of the guarantee companies doing nothing." The above sources said.
It is rumored that the first party secretary and chairman of Jinyuan Investment Company will be Xu Xiaoxi, former president of Xiamen International Trade (600755.SH). The announcement of Xiamen International Trade on June 2 1 day showed that Xu Xiaoxi resigned as a director and president of the company due to job changes. Xiamen International Trade has a wholly-owned subsidiary, Fujian Jinhaixia Financing Guarantee Co., Ltd., and it is logical for Xu Xiaoxi to lead this task.
In fact, due to the lack of supervision and the low overall credit level of the industry, the industry integration and rectification of guarantee companies have been imminent.
"Basically, all guarantee companies are involved in usury." An industry insider believes.
The more serious problem is that it is quite common for guarantee companies to lend money to each other and cooperate to guarantee loans. As long as one company has serious problems, it is inevitable that it will lose both.
"Now that funds are tight, enterprises are generally difficult. Some enterprises often borrow money from guarantee companies at high interest rates in order to return due bank loans. They wanted to repay the loans and then lend them back to the guarantee companies. However, banks are subject to the loan quota, and they will drag the guarantee companies into the water again and again." The above-mentioned person said.
According to public information, in 2008 alone, Xiamen's guarantee company * * * repaid 232 million yuan for enterprises that could not afford the loan.
On the one hand, many guarantee companies are stuck in a quagmire, and on the other hand, various capitals are flocking to the guarantee industry. Statistics from Xiamen Economic Development Bureau show that at the end of 2009, there were 58 guarantee institutions in Xiamen, but by the end of the third quarter of 20 10, including branches, the number of guarantee institutions in Xiamen had reached 156.
"Before and after the promulgation of the Interim Measures for the Administration of Financing Guarantee Companies, the qualification of guarantee companies, especially financing guarantee companies, became a scarce resource due to the rising market access threshold." The above-mentioned insiders said.
However, the number of new guarantee companies has skyrocketed, and the disorderly development situation has also intensified, and the cooperation threshold of banks has turned away most guarantee companies. Previously, the results of a thorough investigation by Xiamen Economic Development Bureau showed that nearly 1/3 operators had almost no related financing guarantee business, 1/3 operators were engaged in non-financing guarantee business, and only 1/3 were engaged in financing guarantee business.
In fact, it is difficult for guarantee companies that make profits from guarantee fees to resist the temptation of high returns from usury.
According to the latest data released by China Banking Regulatory Commission, the average net assets magnification of financing guarantee companies is 2. 1 times. It is generally believed in the industry that the magnification is 3 times to protect the capital and 5 times to make a profit.
"The guarantee fee of Xiamen guarantee companies is generally between 0.8%-1%.Compared with usury with a monthly interest rate of more than 3%, who else is not tempted?" The above-mentioned insiders said, "It is an open secret in the industry that even companies that carry out financing guarantee business are also secretly lending usury."
The profiteering mode of guarantee companies, in addition to its own funds for high-interest loans, is more to absorb private funds for usury through various channels with the promise of high returns. Guarantee companies are both lenders and borrowers.
"The process of a guarantee company absorbing private funds is like pyramid selling. This chain usually adopts a pyramid-shaped layer-by-layer lending and lending method, that is, A concentrates on lending more funds to B, and B concentrates on lending more funds to C, earning interest margins at different levels and handing them over to the guarantee company for large-scale lending." The above-mentioned person said, "This practice is extremely risky. Once there is an irreparable bad debt in one of the links, the whole chain will be broken. However, due to suspected illegal fund-raising and usury, lenders rarely choose to report the case even if they lose all their money."
In addition to guarantee companies, numerous companies and pawn shops that appear in the name of investment management and investment consulting have also joined the usury camp to make waves.
2. The reporter from china securities journal learned that in May of 20 1 1 year, near the end of the year, a joint-stock bank, Zhengzhou huanghe road Branch, had a heavy task of drawing deposits, so the president of the bank made a bold plan of drawing deposits.
First, a group of salesmen from a guarantee company are invited to the bank to form a new team of account managers. The advantage is that these salesmen are well-trained and have a large number of customer resources with investment intentions. On this basis, it is necessary to make a high-yield wealth management product, lend the absorbed funds in the form of high-interest loans, and part of the spread income is used to pay high interest rates to complete the task of saving.
After the president ordered the recruitment, the salesmen dug from the guarantee company quickly arrived, and all of them belonged to the newly established second financial management department. In addition, the self-made bank wealth management product is called "joint wealth management product", and the monthly yield ranges from 1.8% to 4.5%. After everything is ready, the storage operation officially begins.
The account managers of the second wealth management department will let the guarantee company introduce customers to the bank, and Mr. Lu learned of the above-mentioned "joint wealth management products" through the introduction of friends of the guarantee company.
In the VIP room of the bank, Mr. Lu was told that the funds raised by the wealth management product were used for "bank deposit" and "loans to enterprises in need", and the wealth management cycle was short, with the daily interest rate as high as1.3%. . What is more attractive is that the account manager said that "joint wealth management products" are guaranteed by the joint-stock bank.
Under the temptation of "zero risk, high yield and good liquidity", Mr. Lu decided to give it a try. On the desk of the vice president's office, Mr. Lu swiped the bank card into the POS machine, transferred it for 490,000 yuan, and immediately got a financial management contract.
In the following two months, Mr. Lu successfully got the interest, but in the third month, the product suddenly could not be paid. Mr. Lu then went to the bank to consult the original account manager and vice president. The bank told Mr. Lu that none of the former account managers were employees of the bank, and the vice president had left.
Mr. Lu' s heart was cold and he felt that 490,000 yuan would be "wasted". When I went home to check the Internet, Mr. Lu found that there was no so-called "joint wealth management product" on the bank's official website. When I took out the financial management contract, I found that it was actually a loan contract for loans to enterprises. There was no bank as a guarantee in the contract, and the official seal of the borrowing enterprise was also suspected to be forged.
Mr. Lu immediately reported the case to the Public Security Bureau, and the Economic Investigation Detachment of Zhengzhou Public Security Bureau officially filed a case for investigation on this incident on October 20 12 1 month. Mr. Lu later learned that he was not the only one who was unlucky. According to the statistics of customer representatives, 1 17 people * * * 40.22 million yuan was involved in this case.
After half a year's investigation, the Economic Investigation Detachment concluded that the loan contracts signed by the vice president of Zhengzhou huanghe road Sub-branch of the above-mentioned joint-stock bank and the account manager of the second wealth management department in the name of many local companies were false contracts. The vice president was subsequently arrested on suspicion of fraud and illegal absorption of public deposits, and the corresponding property involved was also seized.
Mr Lu later recovered150,000 yuan. In April this year, relevant depositors sued the above-mentioned vice president and others to Zhengzhou Intermediate People's Court, and they stated in the lawsuit that the above-mentioned joint-stock bank Zhengzhou huanghe road Branch should bear civil liability and legal liability.