[6] Defrauding hundreds of millions under the guise of listing small and medium-sized enterprises, Zhiming lawyers entrusted to unravel the "Ponzi scheme."
A well-known chain institution in a certain city had been operating well for many years, attracting numerous companies to extend olive branches and help it go public, among which was a certain technology group.
In 2015, to win the favor of this chain institution among many competitors, the technology group not only invested over 50 million yuan in equity at the outset but also signed a gambling agreement with the chain institution, stating that if it failed to help the chain institution go public before June 2018, the technology group would unconditionally pay an additional 40 million yuan in cash on top of the previously paid 50 million yuan investment. Additionally, a supplementary contract was signed, stipulating that the chain institution would receive extra annual dividends, and if there was a breach, the technology group would have to pay 90 million yuan in liquidated damages.
Image source: Internet
By 2018, as the agreed-upon listing date approached, the technology group, being a fraudulent company itself, had only orchestrated a "Ponzi scheme" to help the chain institution go public. To evade responsibility, the technology group deliberately set traps, not only burdening the chain institution with over 50 million yuan in debt but also luring it into signing a deceptive, fraudulent, and grossly unfair contract, thereby releasing the technology group from its gambling obligations and all other responsibilities.
Soon after, the chain institution discovered that during its management period, the technology group had embezzled and misappropriated a large amount of the institution's funds, leaving it with severe losses and turning it into a "shell company." Only then did the chain institution realize it had fallen into the technology group's trap, suffering losses of over 100 million yuan for no reason!
At a time of deep despair, Mr. Lin (pseudonym), the head of the chain organization, learned through multiple sources that the Wang Tengfeng Art Rights Protection Litigation Team of Guangdong Zhiming Law Firm is known for overcoming major and complex cases, and can resolve major, important, and difficult cases with artistic defense, achieving miraculous results. Therefore, he came to Guangdong Zhiming Law Firm to seek help from the Wang Tengfeng Art Rights Protection Litigation Team. After full negotiations with the lawyers of Wang Tengfeng's literary and artistic rights litigation team, Mr. Lin firmly entrusted this case to the Wang Tengfeng literary and artistic rights litigation team for handling.
