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Zhang Xin illegal securities investment consulting case

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Risk revealing educational articles
2018/11/19 11:12
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Zhang Xin illegal securities investment consulting case

  In May 2012, the People's Court of Xicheng District of Beijing announced the first instance of Zhang Xin's illegal securities investment consultation case, and found that the defendant Zhang Xin illegally engaged in securities investment consulting business without the approval of the relevant state authorities, and the circumstances were serious, which constituted the crime of illegal business. Zhang Xin was sentenced to one year in prison and fined RMB 50,000 to recover the illegal income involved.
 
  Case summary
 
  At the end of 2008, the Beijing Securities Regulatory Bureau received letters from a number of investors on the “China Financial Investment Network” (in the Financial Street Investment Plaza), reporting the website and related companies to sell stock analysis software and provide “bull stock information”. Defraud customer service fees. After investigation, “China Financial Investment Network” and its affiliates Beijing Guosheng Jinding Information Technology Co., Ltd. and Beijing Tiangong Essence Software Technology Co., Ltd., without the approval of the China Securities Regulatory Commission, used the software to sell stocks as a scorpion, using random calls and other means. To recruit non-specific customers, and then provide securities investment consulting services online, to collect service fees, suspected of illegally engaged in securities investment consulting services.
 
  As the amount involved exceeded 300,000 yuan, it has reached the criminal registration standard for illegal business operations. The Beijing Securities Regulatory Bureau promptly transferred the criminal offences of the case to the Beijing Public Security Bureau in early 2009. After investigation, the public security organ decided to file a case for investigation after obtaining the conclusive evidence. The Beijing Securities Regulatory Bureau issued a timely opinion on the nature in accordance with the requirements of the case handling agency. The public security organs successively controlled a number of people involved in the case. Zhang Xin, the actual controller of the two involved companies, was arrested and arrested by the public security organs in 2011 after being fleeing. He was then investigated and prosecuted by the procuratorate and finally convicted by the people's court. Punishment.
 
  2.Risk warning
 
  The stock market has its own internal laws. When investors make investment decisions, they should maintain a rational mentality and beware of the temptation to "get rich overnight." When choosing investment consulting services, you should choose institutions with qualified and compliant operations. The names of these institutions can be inquired and verified on the website of the China Securities Regulatory Commission and the China Securities Industry Association website. If you encounter a promised high return, agree to a profit share, or provide inside information and conspiracy to manipulate the stock price as a bait, you can basically determine that the institution is illegal. Investors must also raise their awareness of risk prevention. When accepting securities investment consulting services, they should carefully sign contracts and do not accept service methods that do not sign contracts or replace securities investment consulting contracts with other contracts. In addition, investors should pay attention to retaining various information such as contracts, remittance documents, invoices, etc. when obtaining securities investment consulting services. These documents will help defend rights once they are deceived or have disputes.
 

 

  (This case is taken from the official website of China Securities Regulatory Commission)