The core lending business of Phoenix Finance is vicious P2P business. Even if there is a "Phoenix Real Quasi" business of fund consignment and personalized financial management, it can't hide the essence of its vicious P2P platform. The main business of Phoenix Finance is divided into two parts: First, the loan platform "Magpie Express Loan" that serves borrowers and helps borrowers solve their capital turnover needs; The second is to serve the lenders, and recommend to investors the series products of Feng Ying and Feng Chu, which provide the guarantee of principal and even income. Phoenix Finance is responsible for risk control and other links. Phoenix Finance's left hand absorbs the lender's funds in the name of "guaranteed capital and guaranteed interest" and "worry-free quality", and its right hand lends funds through its own platform "Magpie Express Loan". All links are handled by Phoenix Financial Platform for both borrowers and lenders, completely losing the position of "intermediary" and "platform", with the left hand arranged and the right hand reversed. Phoenix Financial Platform vigorously promotes the "quality assurance plan" and third-party guarantee compensation under the promise of risk control, which makes it impossible for borrowers and lenders to conduct mutual risk assessment. In order to maximize the profit difference of the platform, Phoenix Finance obtains as many commissions as possible, arranges transactions between borrowers and lenders, and even the contracts provided to borrowers and lenders are not necessarily the same. This is a kind of "super bank financial service" and a very vicious financial fraud. The "quality assurance plan" and the third-party guarantee compensation mechanism declared by Phoenix Finance became a dead letter with the shutdown of the platform on September 1 1. After Phoenix Finance is overdue in a large area, the guarantee company will compensate for the non-performance of the contract; When some guarantee companies closed down, Phoenix Financial failed to inform the lender of the relevant risk information according to the risk control plan, continued to release the bad target without guarantee compensation, and passed the risk on to the lender without the lender's knowledge; According to the contents of the contract, a delay of more than three months is regarded as early termination of the contract. Phoenix Financial will continue to take such bad contracts as new targets and transfer debts without the lender's knowledge. Phoenix Finance also uses the asymmetry of the "technical control ability" of the Internet platform to deliberately hide more than 300,000 loan contracts and deprive lenders of their legal rights to know about loan contracts at any time. Why are the guarantee companies of Phoenix Financial Cooperation New Information E-Commerce Co., Ltd. and Murray Financial? After investigation, the two companies were placed on file for investigation by the economic investigation department on 20191,among which Hexin Information Electronic Commerce Co., Ltd. defaulted on a large area of debt on 20 18 and could not pay. Shanghai Houben Financial Information Service Co., Ltd., the platform loan collection company of Phoenix Finance on June 8, 2020, was put on file for investigation by Shanghai Pudong police on suspicion of illegal storage as early as August 19. On September 1 1 day, 2020, the products of Phoenix Financial Shangfengchu and Feng Ying stopped production completely. However, until 23: 46 on September 30, 2020, neither Phoenix Finance official website nor Phoenix Finance APP had any announcement or notice about the suspension of business. This behavior obviously violates the provisions of Article 24 of the Interim Measures for the Management of Business Activities of Personal-to-Personal Lending Information Intermediaries. When a personal-to-personal lending information intermediary suspends or terminates its business, it shall announce it to the lenders and borrowers through effective channels such as official website at least 10 working days in advance, and notify the lenders and borrowers through mobile phones, fixed telephones and other channels. Also suspected of financial fraud. In addition, Phoenix Finance has planned to stop selling online loan products on September 1 1, and took the initiative to report stability issues to Haikou Municipal Government on September 7, but did not issue a statement in advance to inform lenders. On the contrary, it reaped the lender for the last time through cash back, interest rate increase, red envelopes and JD.COM shopping cards. Suspected of setting up a private fund pool to engage in illegal fund-raising activities, Phoenix Finance is suspected of setting up a private fund pool. The main performance is relying on "Feng Chu" products to engage in illegal storage and fund-raising activities, borrowing new and returning old, and constantly circulating. In the name of decentralized lending to reduce risks, Phoenix Financial Platform divides the products of "Feng Ying" and "Feng Chu" purchased by lenders into many so-called "targets" with different maturities and different amounts. For example, "Feng Chu" products were split into two years or more by the platform when the lender only knew that the products purchased by the lender were closed for one year at the longest, thus splitting the whole money of the lender out, resulting in the second, third and even fourth generation borrowers. Due to the maturity mismatch and different repayment amounts, the platform has to make up for the repayment window by constantly developing new lenders. Once the "new standard" is stopped, or there are more bad debts or bad debts in the loan, and there is not enough new capital injection, the platform will not be able to return the money to the borrower normally. This was the case with Phoenix Finance after September 1 1, when a large amount of money was overdue and the lender fell into a panic. In addition to the Phoenix Reserve Plan, Phoenix Finance also has a "Phoenix Linglong" loose bid, which is the subject of transferable creditor's rights with a term of 12 ~ 36 months. Phoenix Financial will break up the "Feng Chu" products invested by lenders and automatically match the "Fenglinglong" products. Therefore, Feng Chu's products are cross-cutting and complicated. For example, Party A, Party B, Party C and Party D respectively invest 1 1,000 yuan, and Party A, Party B, Party C and Party D respectively borrow 1 1,000 yuan. A's money is distributed to A, B, C and D, and the repayment period and amount of A, B, C and D are different. Maybe D has been borrowed for a long time, and C has been out of stock for a long time, and the platform has been taken out again. Article 1 of the annex to the Notice on Doing a Good Job in P2P Peer-to-Peer Lending Risk Rectification and Acceptance: "The online lending institution signs a loan contract with the borrower, directly lends money to the borrower, and then bids on the platform according to the loan amount to transfer the creditor's rights to the actual lender. Because it may lead to fictitious targets of online lending institutions, the project split period does not match. Docking the subject matter of creditor's rights transfer in the form of current and regular wealth management products may cause mismatch between the term of funds and assets, which shall be considered illegal. " Phoenix Financial Platform lends money by itself with "Feng Ying" and "Feng Chu" products, with its left hand upside down. This practice is actually suspected of setting up a fund pool privately. Another manifestation of the so-called private equity fund pool is the fictitious third-party real-time guarantee. There are various indications that the guarantee company of Phoenix Financial Cooperation may be just a shell company used to paralyze and confuse lenders, or even a company in which the main person in charge of Phoenix Financial owns its own shares or shares, which is related. For example, the shareholder change information of Shenzhen Hengxin Li Yong Financial Services Co., Ltd., a third-party guarantee company, in August 2020: Huayuetong Information Consulting (Haikou) Co., Ltd. holds 60% of the shares, and its major shareholder is Lily He, the major shareholder of Fengxin Technology (Haikou) Group Co., Ltd., and the registered address of Huayuetong Information Consulting (Haikou) Co., Ltd. is the same as that of Fengxin Technology (Haikou) Group Co., Ltd., which should belong to the self-sustaining behavior of Phoenix Finance in violation of the 2065438+065438 In 2009 10, the Internet Financial Risk Remediation Office issued the Notice on Guiding Opinions on the Pilot Transformation of Information Intermediaries into Small Loan Companies in Peer-to-Peer Lending to guide online lending institutions to handle and resolve the risks of online lending stock business and minimize the losses of lenders. However, Phoenix Finance runs counter to this guiding principle. Instead of gradually reducing the scale of online loans in accordance with the spirit of the document and preparing for reducing bad debts, Phoenix Finance will continue to maliciously issue large-scale coupons and stop sales when it cannot repay on a large scale in 2020. Carry out promotional activities in the "Latest Announcement" column of the platform: "Win RMB 8,888 by collecting cards" (1August 7), "Strike with all the profits" (1August 2), "Go to the gold" (August 3), "Wealth is imminent" (August 3) and "Invite friends". Cut off the online loan business and plan to transfer its own business risks to the majority of lenders. Before the introduction of the Internet financial rectification plan (No.83 Document), Phoenix Financial spun off the online loan business and became an independent legal person-Phoenix Zhixin. Quickly move the company from Beijing to Haikou, where financial supervision is weak, and clean up the relationship with other profitable businesses such as fund sales, overseas assets and personal tailor-made wealth management service "Phoenix Zhenzhu", independently liquidate the super online loan business, and intend to transfer its own business risks to the majority of lenders. On September 7, 2020, Phoenix Financial filed a case with Haikou Municipal Government on the grounds of policy changes, requesting Haikou Municipal Government to intervene in "maintaining stability", making the government an umbrella for Phoenix Financial to deliberately pass on operational risks and evade the responsibilities of major shareholders. On September 1 1, Phoenix Financial suddenly removed all online loan products, and stopped the payment of almost all online loan products without making any announcement or disclosing any real information. Some lenders reported that Phoenix Finance was suspected of privately changing the creditor's rights of online loan products, and transferred a large number of loose bids and invalid bids to the lender's name; Delete the advertising slogan of "Phoenix Satellite TV Member" and clean up the relationship with Phoenix Satellite TV, trying to make up for the possible holes in Phoenix Finance's false bid, bad bid, even transfer of funds and illegal financing over the years, which led to the break of the capital chain. In fact, since February 2020, Phoenix Finance has experienced a large-scale overdue repayment, but it has always claimed that the platform is operating normally, which has seriously violated the lender's right to know. According to the creditor's rights contract of the four parties (lender, borrower, platform and guarantee company) and the quality assurance plan promised by Phoenix Finance, when the borrower fails to repay the loan within the time limit, the guarantee company should take the initiative to implement compensation in time to protect the interests of the lender. However, Phoenix Financial did not mention fulfilling its guarantee obligations for more than half a year, and continued to transfer funds and debts with the bad standard of overdue repayment as the new standard, without any responsibility and attitude to reduce bad debts and solve problems. Phoenix financial platform has always used Phoenix Satellite TV's LOGO, which is also marked as a platform of Phoenix Satellite TV. After the accident, I tried my best to clear up the relationship with Phoenix TV. Before the accident, the platform clearly stated that there was a quality assurance plan. After the accident, the creditor's rights contract of the lender was hidden, and the description of the "quality assurance plan" was deleted, so the lender could not obtain the legal evidence of violating the promise. The contract also stipulated that the fund transactions should be kept by a third party, baixin bank, and Phoenix Financial frozen the funds in the lender's baixin bank account for no reason, which gradually lowered the lender's expectations and caused panic. The purpose may be to prepare for the next low-cost harvest of lenders' claims.