In early this year, the Shuibei Gold Trading Platform “Jeerguire” in Shenzhen suddenly exploded a financial scandal, involving an amount of 13.3 billion yuan (RMB), affecting approximately 150,000 users. Recently, the actual controller of the company, Zhang Zhiteng, has been criminally detained.
According to the announcement made by the Luohu Sub-bureau of Shenzhen Public Security Bureau on Weibo on May 6, recently, several individuals involved in economic crimes, such as Shenzhen Jeerguire Jewelry Co., Ltd. and Shenzhen Long Metallurgy Co., Ltd., with “Zhang Moteng” as their representative, have been subject to coercive measures.
Public records show that Shenzhen Jeerguire Jewelry Co., Ltd. was established in 2014, with Zhang Zhiteng as its actual controller.
In January of this year, “Jeerguire” and its multiple precious metal platforms were exposed to a funding chain rupture, resulting in a large number of users unable to withdraw or access the purchased gold materials. The amount involved reached a staggering 13.3 billion yuan, impacting around 150,000 users. It is reported that the investors of “Jeerguire” come from 11 provinces including Guangdong, Fujian, Shanxi, Jiangxi, and Anhui, mainly housewives and the working class.
After the scandal broke out, a large number of users gathered at Shuibei to protest, leading to clashes between the police and civilians.
Following the incident, the authorities claimed to have established a special task force to urge “Jeerguire” to raise funds to initiate payments. On May 6, Ms. Lin from Jiangsu told Red Star News that in recent months, the customer service personnel of Jeerguire platform claimed they could refund at a 50% rate, requiring users to sign a written disclaimer. If agreed, they would be prioritized for payment, but many are hesitant. Ms. Lin herself is indecisive, as “some million yuan principal is only given 200,000 yuan. The materials received and cash charged are real, and no one is willing to let go.”
Ms. Lin stated that before the scandal, she had “deposited” around 1,000 grams of gold on Jeerguire, with nearly 1.12 million yuan in principal, all her savings from years of work. “Now not even 1 gram can be retrieved. Although withdrawals are available daily, the actual funds do not come through.”
Another user informed the Beijing News that Jeerguire Jewelry Company ceased payments at the end of April, with situations of overdue and installment payments occurring before that.