What's wrong with this lawyer?!

"Because the clients who attended that meeting at the time, most had already purchased our fund, and the remaining few were introduced by their relatives and friends."

"We originally intended to explain the project details clearly to our clients, coincidentally other people were there that day, so they listened together."

"We did not use this meeting to recommend products to other clients."

The few parties involved beside her were already furious, it was not how it was said initially, yet now they're lying right in their face!

At this moment, however, they could only choose to believe Tian Junfa.

Tian Junfa smiled upon hearing this, and then asked: "Now, the second question, according to regulations, investors must be qualified for private equity fundraising, but my clients said you let them promote to relatives and friends, suggesting they can invest under their names, allowing proxy holding and sharing extra profits."

"What does this mean?"

Private equity funds sound quite high-end, actually... they are indeed rather high-end.

Not everyone can invest; only meeting the "qualified investor" criteria makes you eligible.

According to the "Interim Measures for Supervision and Management of Private Equity Funds" articles 12 and 13, qualified investors must meet the following requirements.

For entities, net assets must not be less than ten million, for individuals, financial assets must be no less than three million or their income in the last three years must exceed fifty thousand annually.

However, many private funds now reduce investor standards in various ways to maximize fund raising.

For instance, we're very familiar with "group buying," "proxy holding," etc.

To put it bluntly, someday, a relative or friend tells you there's some project especially good, certain to earn money, inviting you to join.

But you're not eligible to invest, so the relative says there's a great guy who's qualified, we can buy with this guy.

Hence, you sign a deal with that great guy, several people combine to buy a portion.

Basically, it's layer upon layer deception.

Many housewives or those in charge of household finances want to do financial management and investment.

But now after seeing the regulations, you should know private equity isn't for everyone; whenever a finance company says it's private equity, you need to check if you meet the criteria.

If they keep saying, our fund will buy back at year-end, or sign an agreement that the boss guarantees it with personal money, or promises a certain yield...

Don't hesitate, leave immediately, they're just trying to scam you!

A feature of private equity funds is: investor bears the risk!

Yu Zong now has a bit of sweat on his forehead, the questions asked were precisely on point.

"Lawyer Tian, your client is just making things up, there's no evidence, right...?"

Tian Junfa laughed even more happily: "So Yu Zong, you mean my clients, those housewives, themselves understand terms like group buying and proxy holding?"

Yu Zong's expression darkened: "Lawyer Tian, if you put it this way, we can't communicate, how else can we talk, alright, let's leave."

Upon saying this, he pulled the people beside him and turned to leave, the executing judge merely symbolically shouted twice, hardly moved his rear.

This sight left Liu Yan dumbfounded, she wanted to ask the master what's the plan, but felt it's inappropriate to speak.

Mainly this executing judge, initially he seemed eager to solve the problem, yet eventually began to muddle through.

Unexpectedly, the master didn't say anything either, what's going on?

Meanwhile, seeing Yu Zong and his team leave, Tian Junfa likewise stood up and said: "Then Judge Li, I also need to go and get busy."

Judge Li laughed heartily upon hearing: "You Tengda lawyers all share similar traits, learn from your director, when disagreement arises, you think of going criminal."

"Go ahead, it's also convenient for me to save some trouble."

Tian Junfa nodded, again glanced at the few women beside him and said: "Let's go together, we'll meet at Xihong District Public Security Bureau entrance."

At the bureau entrance... one woman suddenly got excited: "Lawyer Tian, are you going to file a report? But we reported before, and they didn't care..."

Tian Junfa waved and said: "It's because you reported in the wrong way, hurry up and go, this should be handled sooner than later, who knows what more they'll do."

Leading three individuals, he stood up to leave, only after getting in the car did he speak: "Still don't quite understand?"

Liu Yan quickly nodded: "Master, this executing judge was very perfunctory afterward."

Tian Junfa laughed on hearing: "Perfunctory because they've realized this case doesn't require their intervention, so they're lazy to say anything."

"The questions I asked earlier weren't random, as they've indicated those few clients may be lying."

"It's now certain Tianheng Wealth has issues, falsely using private equity to convertively absorb deposits, now it's time to report."

Liu Yan felt she understood, Tengda's way of handling cases is... reporting!

Right indeed, that should be it, once they're caught, naturally the money can be refunded, no problem, quickly note it down in her little notebook.

Soon, Tian Junfa arrived at the bureau here, reported with several clients to the bureau, under the name of illegally absorbing public deposits.