On December 4th, JD released a statement on Weibo's "JD spokesperson" regarding Noah Wealth's malicious prosecution of JD, misleading investors and the public.
JD.com stated that recently, the "Chengxing case" has attracted widespread media and public attention. JD, as an uninformed victim, was involved in a four-year malicious lawsuit, causing significant damage to the company's reputation and rights.
In the process of contract fraud in Chengxing Group, Chengxing Group companies easily deceived Noah Wealth, known as the "global comprehensive financial platform," and its Gefei assets by using fake JD official seals, fake JD employees, fake JD systems, and false transaction data, and obtained huge financing from Gefei, which directly caused explosions. Faced with more than two years of ongoing fraud, Gefei Asset's due diligence work has shown obvious deficiencies, and there are huge loopholes in investment and financing management. Executive Fang Jianhua accepted a huge bribe from Chengxing (which has been sentenced in the first trial), causing significant losses to investors and failing to fulfill corresponding responsibilities and obligations to investors.
According to public information, Noah Wealth has experienced more than ten similar incidents in recent years, facing problems in the redemption of billions of funds, and has repeatedly concealed information from investors. It has also been warned and punished by regulatory authorities, indicating its long-term serious risk control deficiencies. At present, the criminal case related to the Chengxing case has been sentenced in the first instance, and the actual controller of Chengxing, Luo Jing, and other fraud suspects have been sentenced to prison. Noah Wealth and Gefei Asset still disregard the trust of investors, refuse to examine their internal management issues, and maliciously launch a ridiculous and high amount lawsuit against third-party JD.com, attempting to confuse the public, continue to mislead investors and the general public, shift responsibility, and seek a "scapegoat" for themselves. We believe that the court will make a fair judgment on this case. I hope that Noah Wealth and Gefei Asset will face their own problems, show sincerity and take corrective measures, especially to enhance the most basic integrity and literacy as a wealth management company, and truly protect the rights and interests of investors.
On November 24th, the contract dispute between Shanghai Gefei Asset Management Co., Ltd., a subsidiary of Noah Wealth, and Guangdong Chengxing Holdings Group Co., Ltd., Guangdong Zhongcheng Industrial Holdings Co., Ltd., Suzhou Shengjun Marketing Management Co., Ltd., and Beijing JD Century Trading Co., Ltd. was heard in the Shanghai Financial Court, attracting widespread attention.
From 2015 to 2019, Chengxing series companies used fictitious purchase and sales transactions with companies such as JD.com and Suning to raise funds from investment institutions through accounts receivable debt, involving over 30 billion yuan, resulting in a total loss of over 8 billion yuan. According to the criminal judgment issued by the Second Intermediate People's Court of Shanghai on November 1, 2022, combined with the testimonies of defendants Luo Lan, Shi Mianqian, and other individuals, as well as the appraisal opinions of multiple appraisal institutions on the purchase and sales contracts, it can be confirmed that Chengxing Company fabricated its accounts receivable and debt claims against JD Company by forging JD Company's seal, falsifying relevant purchase and sales contracts and other underlying information, And using false accounts receivable debt transfer to lure the victim units into signing contracts.
During the due diligence investigation at Noah, Chengxing Group Company engaged in activities such as sending employees to pretend to be employees of JD, intercepting deliveries, modifying settlement statements, and impersonating JD Online Banking Co., Ltd.
According to the verdict, Luo Jing was convicted of contract fraud and sentenced to life imprisonment.