Xinhua Life Insurance 350 000 000 Woan exposed nearly 30 executives accountable thousands of people involved in customer

REVIEW: New Life Insurance Deputy General Manager of Jiangsu Taizhou center branch Rong Fu Wang, for up to 6 years time, fraud, embezzlement and misappropriation of funds of 3.5 billion, involving thousands of customers.

Recently, the main people involved were arrested by public security organs or the taking of measures, Xinhua Life Insurance, the other nearly 30 general, branches and expensed company responsible person in charge directly responsible leadership and accountability by the CIRC, punishable by dismissal, warning and fines.

Involved 350 000 000

Is located in Taizhou City, Jiangsu Province, has recently become the central concern of the focus of the insurance industry, although 13 districts in Jiangsu Province, in 2009 the total premium income of Taizhou is only Lie No. 9, Yi Qi illegal fund-raising case of life insurance companies has increased greatly attention from people of Taizhou, Xinhua Life also be involved once again pushed to the cusp.

Recently, a "branched on the new general manager of Taizhou, Xinhua Life Insurance, Wang Fu-rong accountability for illegal fund-raising case briefing," the onward transport of insurance regulatory bureaus, insurance companies, insurance asset management companies and insurance intermediaries.

October 2009, Xinhua Life Insurance, general manager of Taizhou expensed Wang Fu-rong illegal fund-raising of a case, set up a special investigation team to visit China Insurance Regulatory Commission on site investigations and the responsibility of Jiangsu, after six months of investigation, the basic context of the case emerges surface.

Verified from 2003 to October 2009 period, Wang Fu-rong fake insurance certificates by unauthorized illegal fund-raising, withholding of funds misappropriated premiums and surrender by way of fraud, embezzlement and misappropriation of funds of 3.5 billion, involving thousands of customers .

According to informed sources, Wang Fu-rong, 35-year-old high school culture, and in 2002 branched into Taizhou, Xinhua Life Insurance, a former deputy general manager of Taizhou expensed. Since 2003, the king through privately engraved seal of the insured, "patchwork" fake business, the insured, and will surrender the policy with the fake money back into his personal account or accounts controlled investment company.

Investigation by public security departments, Wang Fu-rong misappropriation of funds, amount to 185 million yuan, of which about 67 million yuan for investment has set up nine companies, 48 million yuan to cover an initial interest, 29 million yuan for gambling or personal spending money 10 million yuan for the purchase of real estate vehicles, 10 million yuan loan to others, 21 million yuan to pay the salaries for.

Informed sources, Wang Fu-Rong Ren in Taizhou group insurance business has branched manager, deputy general manager, he used his position to a single way to do patchwork group group policy, the insurance certificate issued by the insurer the premium charged, but not recorded, thus withholding premiums, directly into their personal accounts or business accounts they control. In addition, Wang also pretending to surrender payments for the insured status, for other purposes.