Seized.

According to inquiries, Beiwan Online learned that from May 2017 to December 2021, the defendant Feng Xiang, through the Shanghai Zhongyan Industrial (Group) Co., Ltd. (hereinafter referred to as Zhongyan Group) and its affiliated companies that he actually controlled, without the approval of relevant state departments

, violating laws and regulations on private equity fund management and other regulations, using the repayment of principal and interest and the payment of high interest as bait to raise more than RMB 3.301 billion in funds from unspecified members of the public (the following currencies are all in RMB), and the proceeds were used to borrow new

Repaying old debts and waiting caused the victims to lose more than 958 million yuan.