The 33-person group speculated about "London Gold" across 31 provinces for four years

On July 16, the Luoyang Public Security Bureau issued a news report announcing that it had cracked down on a large-scale illegal business case. The case was unanimously commanded by the Ministry of Public Security. Police in Luoyang and Shanghai in Henan jointly cracked the police. There were 33 gang members and the amount involved was 382.232 billion yuan. Since October 2008, the gang has operated financial futures businesses such as gold, silver, foreign exchange, crude oil, and stock indices in the country without the approval of the national financial futures department, accumulatively developing agents in 31 provinces, municipalities, and autonomous regions nationwide. More than 5,000 customers.

Client invests “London Gold” cheated for 2.8 million months

On November 2, 2011, Yemou reported to the Economic Investigation Detachment of the Public Security Bureau of Luoyang City, Henan Province, claiming that he had opened an account on an overseas online gold futures trading platform in April 2010 and participated in the “London Gold” abroad. In the case of investment, a two-way transaction of “buy more” or “short-selling” with a 5% trading margin resulted in a loss of 2.8 million yuan in just a few months. During the investment process, Wang and Ye had not signed any account opening documents. All investment funds were deposited into personal accounts of Wang X, Ma X, Han X, etc. according to Wang's instructions.

The case was serious. The police immediately conducted a preliminary investigation based on the clues. The result was even more shocking. Some other investors suffered more serious losses, totaling more than 20 million yuan.

The situation reflected by Ye Mou related to the “underground speculation” campaign in Kinki, which caused the Luoyang police to pay high attention to it. After analyzing and judging the case, Xia Lantian, deputy chief of the Economic Investigation Detachment Team of the Public Security Bureau of Luoyang City, decided to start with the true identity of the involved personnel and the bank account, and initially grasped the basic information of the case, so as to clear the direction for the next investigation.

In accordance with the established work plan, the investigators quickly grasped some important situations. Criminal suspects Wang X, Ma X, Han X and others opened more than 20 personal accounts in banks in Luoyang, Zhengzhou, and Sanmenxia. These accounts have frequent exchanges with a large number of personal accounts in the province since 2010. According to preliminary statistics, the funds involved are nearly 300 million yuan.

The behind-the-scenes operator of the gold futures trading platform has a strong anti-reconnaissance awareness, uses Shenzhen's communication tools to communicate with the outside world, and uses Hong Kong-registered network tools to communicate with agencies across the country. The law of activity is difficult to grasp. At the same time, the police investigation revealed that the bank account funds controlled by the gang have been transferred to personal accounts such as “Liang X”, “Luo X”, “Wang X” and “Zong X” through online bank transfer, and the account opening banks of the other accounts are all displayed in Shanghai. Pudong New Area.

The Ministry of Public Security issued a unified command to Luoyang Shanghai to destroy the "fried gold gang"

On November 8, 2011, the Luoyang Public Security Bureau established the "11.8" task force to dispatch 10 elite investigators from the economic investigation and special police departments to participate in the war.

In order to completely destroy the illegal platforms hidden in the shadows, the task force decided to continue secret surveillance measures against Wang X and other investigators who went to work in Shenzhen and Shanghai.

With the strong cooperation of the police in Shenzhen and Shanghai, the task force initially identified the criminal gangs with Xu X as the backstage owner and major members including Liang X, Cheng X, Luo X and more than 20 criminal gangs. Activity track. Although the group claimed itself as an overseas legal financial institution, it concealed itself in a private house in the Pudong New Area of ​​Shanghai and established a large and complex agency network in many domestic provinces and cities through the Internet and telephone. Due to the large number of customers involved in the gold futures trading platform and the large amount of funds involved in the accounts, the tasks faced by the task force are extremely difficult.

The Luoyang Public Security Bureau quickly reported the situation to the Public Security Bureau of Henan Province and the Economic Investigation Bureau of the Ministry of Public Security. On March 2, 2012, under the unified command of the Economic Investigation Bureau of the Ministry of Public Security, the police in Luoyang and Shanghai decisively attacked the gang’s operation nest in Pudong New Area, Shanghai. Luo X and several other criminal suspects were arrested. Xu X, Liang X and Luoyang agent Wang X and others were also captured in Shanghai and Luoyang.

In order to completely destroy the criminal network involving the country, the police of Luoyang and Shanghai jointly initiated the cluster battle in accordance with the instructions of the Ministry of Public Security’s Economic Investigation Bureau. The criminal clues of the agents from other provinces and cities in the country were investigated by the local police. The case is being further processed.

The police reminded: "London Gold" is not registered in the domestic speculation is illegal

"Frying in 'London Gold', 'low barriers and high leverage', is currently very attractive to many ordinary investors outside of speculation, but it actually exists after seemingly 'big push' high returns. With huge investment risks, even if there is a slight change in market conditions, if most of the funds in the investor’s margin account are occupied by trading margins, and the direction of the trade is opposite to the market trend, it will be easy under the leverage effect of margin trading. The emergence of 'explosive positions' caused investors to lose all their money,' said Guo Shaofeng, a civilian police officer of the Economic Investigation Detachment responsible for the case.

"Because the 'London Gold' investment model is inconsistent with domestic laws and regulations, the national financial authority has never approved any organization or individual to carry out this business in mainland China. In recent years, some criminal elements at home and abroad colluded with each other and adopted it. The way of developing agents (IB) is under the guise of 'recommendation of gold investment and financing products', using huge investment returns as bait, developing investment clients for the public, and illegally developing 'London gold' services, not only seriously disrupting the normal The order of financial management, and the actual operation process often results in serious losses of many investors’ funds, and the social harm is huge.According to China’s trading system, the brokerage institution for futures trading is a futures company.Therefore, no futures company has opened an account for futures trading, and Futures trading on illegal internet platforms is illegal." The deputy chief of the city’s Economic Investigation Detachment, Xia Lantian, who was in charge of the case’s detection and command, told reporters in the interview that they were away from the “London Gold” temptation.

Related Links: "London Gold"

The "London Gold" trading target is a foreign gold spot price contract, which is measured in units of ounces of gold's weight. Each contract is 100 ounces. Each time a contract can be traded at 0.1 ounces, each time an investor closes a position, it will Debited by the trading platform a certain percentage of transaction fees. "London Gold" carries out a two-way trade. Investors can choose "buy more" or "short sell" in the direction of the future according to the forecast of the future gold price trend in foreign markets. The "London Gold" implements margin trading and is set through the trading platform. The "leverage ratio" will enlarge the margin to 100x to 200x for trading. "Margin trading" means that investors do not need to make a full capital transfer to the gold price contract they traded. They only need to pay a certain percentage of the total transaction amount, that is, "margin" as a performance guarantee for the transaction. Because the transaction has a "leverage effect", the investor's capital transaction scale is also correspondingly enlarged, and the corresponding profit or loss is also amplified.

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