Five post-90s sent to jail due to becoming employees of unauthorized fake broker

Source: Fazzaco 2020-07-16

After the written judgement was released, three among five post-90s was sentenced to one-year imprisonment and a fine of 20,000 RMB and the other two was sentenced to 11-month imprisonment, one-year suspended sentence and a fine of 30,000 RMB.

Maybe they committed criminal because of choosing a wrong profession. But they still held a candle for the devil even though they knew perfectly well what they did can be defined as fraud and illegal possession of property of others, which brought them to justice.

Dirty trick hidden behind the senior manager positions

Principle criminal of this case is Li, 25 years old, took up a position of general manager in Shenyang branch company of Dingfeng Summit (not registered).

During the tenure, Li enabled employees who were trained on deceptive talk to pretend to be customer service staff of Hithink RoyalFlush Information Network Co.,Ltd. and lure investors to add WeChat group on the grounds of callback, free consultation and stock recommendation through calling citizens with information from unknown sources.

Li also sent subordinates to pretend to be advisers and investors in WeChat group. Once they won the trust of investors after a period of time, they started to advertise their way of earning money by foreign exchange trading and highly recommended investors to register and trade on false trading platform built by Dingfeng Summit.

Once so-called investment was made by someone, funds were transferred into personal account of Wang, legal representative of the company.

Same as Li, the other four people were also recruited as administrator. Fan and Jia were recruited for pretending to be the mentor in the WeChat group to win the trust of customers, and attracting customers to register and buy so-called foreign exchange on the company's false foreign exchange platform. The rest of them were responsible for adding investors with investment intention into WeChat group and pretended to be assistants of investment analyst.

After just four months, these five people were arrested.

By trial the facts, legal representative surnamed Wang was the leader behind Dingfeng Summit, where he recruited general manager surnamed Li and the other four people to carry on false foreign exchange business and provided them with deceptive talk as well as telephone number of citizens. In their crime, employees in branch company of Dingfeng Summit made a total of 114,025 calls.

Fake identification and money defraud constitute crime of fraud

In this case, Li and the other four people were accused of crime of fraud for pretending as customer service staff of Hithink RoyalFlush Information Network Co.,Ltd. and as stock adviser etc,. to hide the truth and defraud investors of money. But they were defined as accessories because they were not engaged in stealing personal information of victims and were led by Wang to fraud, playing a helping role in this case.

They violated the Article 266 under Criminal Law of the People’s Republic of China: Whoever swindles public or private money or property, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance and shall also, or shall only, be fined.

Be aware of fraud in the disguise of recruitment

It is worth noting that it is a common phenomenon to fraud by recruiting trader with abundant salary, which developed into a way of fraud.

Some of these scams targets at applicants' money, in other words, applicants are recruited with low thresholds and trained for the job pretendedly. And then, they are asked to invest on unauthorized platforms after they pass through the training. Others are just like this case, which require applicants to act as tools to fraud money.

Recruitment scam mainly aims at fresh graduates. Therefore, those who just graduate with little social experience are more easily swindled because you will not set up defense against so-called recruitment company when hunting jobs.

As a reminder, you should strengthen guarding consciousness and consider everything more rationally. Once illegal behaviors are found, you can consult with teachers or friends with rich experience in case of being taken advantage of.

Forex Fraud

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Five post-90s sent to jail due to becoming employees of unauthorized fake broker

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