On February 1, 2015 (December 13, 2014 in the lunar calendar), Huang Jinjia was suspected of illegal fund-raising. "The two parties signed a gold purchase contract. Originally, investors should buy gold from Jinjia and then save the gold back to Jinjia for its management. Investors should share the proceeds when due. However, this process has been simplified at Jinjia. Investors do not get the gold to deposit back, but directly sign the agreement and wait for the benefits." Huangjinjia Investment Group was formally established in 2007 and is headquartered in Langfang City, Hebei Province. It is the first professional gold investment institution in Hebei Province. The company has opened dozens of branches in Shenzhen, Xi'an, Chongqing, Dalian and other places, and claims to have more than 3000 chain stores across the country. The official reported that 6000 people in Langfang area reported the case, with a reported amount of 1.104 billion yuan. On February 1, 2015, Huang Jinjia was suspected of illegal fund-raising. More than 36000 people across the country reported the case, with a reported amount of RMB 5.39 billion. The public security organs of Langfang City frozen a total of RMB 2.828 billion in funds, seized RMB 14.3176 million in cash, seized 488.96 kilograms of gold products and samples (pending identification), and 230.9 kilograms of silver products and samples (pending identification), seized 66 vehicles involved in the case, seized 191 real estate units (including 165 real estate units inside Langfang Huangjinjia Building and 26 real estate units of relevant personnel of Huangjinjia Company), and seized 211,000 square kilometers of land. "More than 36000 people reported the case across the country, with a reported amount of 5.39 billion yuan. "On January 31, the official status of Langfang City, Hebei Province announced the latest progress in the investigation of the suspected illegal fund-raising criminal case of Huangjinjia Investment Group Co., Ltd.(hereinafter referred to as" Huangjinjia Group "), but there may be some duplication of the reported amount. In September 2014, Huangjinjia Group was seized by the public security organs, and many investors reported the case one after another. In the eyes of many investors, Huangjingjia Group has been in operation for many years. Why was it suddenly closed down? The reporter learned that during the national inspection to crack down on illegal fund-raising, Huangjingjia Group was found to be suspected of illegal fund-raising. However, during communication with the local government, company executives refused to cooperate with the rectification, but instead took the opportunity to transfer property and lost contact for a while. In order to protect the interests of more investors, police in many places jointly seized Huangjingjia Group in accordance with the law. At present, the main suspects, including Xiao Xue, chairman of Huangjinjia Group, have been transferred to the procuratorate for review and prosecution. According to the industrial and commercial registration data on paper, Huangjin Jia Group was established in March 2007 and is headquartered in Langfang, Hebei Province. Its business scope is "investment in real estate, hotels, and industrial park infrastructure; retail of gold and silver products; Call center services in the second type of value-added telecommunications services ", etc. Public information also shows that Xiao Xue, the company's chairman, was a national March 8th red flag bearer, executive member of the Hebei Province Federation of Industry and Commerce, and member of the Hebei Province Youth Federation. As the name of Huangjinjia Group shows, the company's most well-known business is the gold products business. In Huangjinjia's promotional materials, it claims to have "Huangjinjia Mini Gold Bars", Huangjinjia Standard Gold Bars, Money Sales and Repurchase as its main business, which reduces the investment threshold for physical gold to the lowest level, and opens dozens of branches in Shenzhen, Xi'an, Chongqing, Dalian and other places. A former employee of Jinjia told 21st Century Business Herald that gold products are indeed sold in various Jinjia stores. However, the most popular ones among investors are not buying and selling physical gold, but the two investment products launched by Huang Jinjia. Mr. Zhang, an investor from Cangzhou, Hebei Province, introduced that one of these two products is called "neutral position", which is "similar to a bank's demand deposit, which can be withdrawn as you deposit" and can earn a certain "position interest"; The other is called the "internal welfare plan". Investors purchase gold from Huangjinjia Group for a one-year term and pay principal and interest at maturity. If they are redeemed early, they will have to pay a 6% penalty and management fee. The yield is divided into three levels depending on the investment amount. Take an investor investing 100,000 yuan a year as an example. The monthly interest rate for purchasing a neutral position is 10.09¡ë, and the return rate for one year can reach 12.10%; while the annual return rate for purchasing an internal welfare plan is 10.8%. On the surface, the latter is not cost-effective, but internal benefits also sign additional terms to get a certain bonus. 100,000 yuan will get a bonus of 6000 yuan. The actual annual rate of return on purchasing an internal benefit plan is as high as 16.8%, while neutral positions There is no bonus. Mr. Zhang also told reporters that the two parties signed a gold purchase contract. Originally, investors should buy gold from Jinjia and then save the gold back to Jinjia for its management. Investors should share the proceeds when due. However, this process has been simplified in Jinjia. Investors do not get the gold to deposit back, but directly sign the agreement and wait for the benefits. The reporter also received confirmation from several other investors. An internal welfare agreement obtained by the reporter shows that "it is only for employees and relatives of employees within Huangjingjia Group, and not for the society." Employees 'relatives also need to fill in the "Family Relationship Confirmation Form" before subscribing. Some investors said that it is difficult to verify whether this kind of kinship is true. According to the latest report from Langfang City, more than 36000 people reported cases across the country, with a reported amount of 5.39 billion yuan, of which 6000 people reported cases in Langfang, with a reported amount of 1.104 billion yuan. Suspected of illegal fund-raising "Huangjingjia Group has been operating locally for several years, and has never heard of a situation where it cannot be redeemed before. The company building is very grand, and you can often see reports from Chairman Xiao Xue in the media." Mr. Zhang said that it was out of these considerations that he invested most of his fortune, nearly 2 million yuan. In 2013, Hebei Province's work on cleaning up and rectifying various trading venues passed verification. Among the 19 retained trading venues, Huangjinjia Investment Group Co., Ltd. was listed. A person close to the local government told reporters that with the increase in financial cases, relevant departments have deployed a thorough investigation of fund-raising units across the country. It was during this process that Huangjingjia Group was discovered to be suspected of illegal fund-raising. As a star entrepreneur in Hebei Province, taking into account social impact and other factors, the government once came forward to interview Xiao Xue and asked Huangjingjia Group to transform. However, Xiao Xue herself transferred some of the funds and has since lost contact with multiple senior executives at the same time. In order to protect the interests of more investors, on September 18, 2014, local public security agencies jointly seized Huang Jinjia's business premises and assets, and pursued Xiao Xue and his senior executives. On October 30, 2014, Langfang City officially announced that it was initially found that Huangjinjia Company had illegally absorbed deposits from the society in various forms, mainly used to pay high interest rates to fund-raisers, commission on performance of business personnel, unified decoration of each store, etc. The essence is to defraud public funds and use the funds absorbed later to pay the principal and interest of the previous funds. At the same time, Xiao Xue and her relatives and cronies used the raised funds to purchase large quantities of real estate and luxury vehicles. Regarding the seizure of assets and capital redemption that investors are most concerned about, the Langfang City official announced the specific circumstances of the seizure of assets in the latest announcement: The public security organs of Langfang City froze a total of 2.828 billion yuan in funds involved in the case, seized 14.3176 million yuan in cash, seized 488.96 kilograms of gold products and samples (pending identification), and 230.9 kilograms of silver products and samples (pending identification). They seized 66 vehicles involved in the case, seized 191 real estate units (including 165 real estate units inside Langfang Huangjinjia Building and 26 real estate units of relevant personnel of Huangjinjia Company), and seized 211,000 square meters of land.