On September 22nd, Cedar Holdings officially issued a clarification announcement in official website in response to the overwhelming news of 52.8 billion debts on the Internet that day, in which the company's debts were elaborated in detail.

It is worth noting that, also on the 22nd, the news about Cedar Holdings was not just 52.8 billion yuan in debt. According to media reports, 42 products of Cedar Trust, a subsidiary of Cedar Holdings, streaked across the board.

According to the media survey, Cedar Trust has issued 42 "Evergreen Tree" series of trust products continuously in the past year, with the scale of issuance exceeding 20 billion yuan and accounts receivable exceeding 22 billion yuan. However, the accounts receivable of Cedar Trust of 22 billion yuan have not been verified. In short, these so-called accounts receivable are actually "nihilistic assets" that cannot claim rights from debtors.

According to public information, Cedar Holding Group was established in 1997. It is a private enterprise covering five industrial sectors: commodity supply chain, new chemical materials, cultural tourism, community intelligent service and social public welfare service. It owns two listed companies, Qi Xiang Tengda and Chino. In 20 18, Cedar Holdings ranked 36th1in Fortune Global 500 with the revenue of 22 1 100 million yuan.

Cedar Trust, formerly known as Zhongjiang International Trust and Investment Co., Ltd. (hereinafter referred to as "Zhongjiang Trust"), was established in June 198 1. 20 18 Zhongjiang trust project was heavily thundered. Subsequently, Cedar Holdings acquired 7 1.3% equity of Zhongjiang Trust in April 20 19, and changed its name to Cedar Trust in June of the same year.

When taking over Zhongjiang Trust, Cedar Holdings promised to "solve all problems". However, Zhongjiang Trust, which was already well-known at that time, was not a high-quality target. Now it seems that the storm is justified.

However, the thunderstorm in Cedar Trust in 2020 was not unique. In fact, the trust in 2020 has become a pain that trust lovers must experience, and countless investors have fallen on the trust.

This year's industry is shocking, and the most unlucky ones are Sichuan Trust and Anxin Trust.

2020 is destined to be an unsettled year in the financial circle. In the past, Bosera Trust, a "senior" financial institution that has been galloping in the capital market for many years, is no different from P2P in disregard for human life.

In the first half of 2020, the news that the trust institution postponed payment and could not pay it came one after another. As far as influence is concerned, it is Sichuan Trust. Previously, Sichuan Trust issued more than 25 billion yuan of trust products, which were large in scale and involved more customers.

As early as May this year, the market had news that Sichuan Trust was about to be taken over. Although Sichuan Trust has repeatedly proved that it is "innocent", paper can't hold fire after all. On June 1 1, some investors received the notice that Sichuan Trust could not pay the principal and interest and the product was postponed indefinitely. According to Red Weekly, on August 25th and 26th, a large number of investors gathered in front of the Chengdu office of Sichuan Trust to complain whether the purchased products could be paid on time.

In addition to Sichuan Trust, on September 1 1, Johnson & Johnson Holdings, a listed company, announced that its 1 100 million yuan Anxin Anying No.42 trust product purchased last year had an expiration date of September 1 1 in 2020, and now the product has been postponed.

Earlier, Anxin Trust had announced that the company had received a notice from the family of Gao Tianguo, the actual controller, that Gao Tianguo had been criminally detained in Shanghai on suspicion of illegally issuing loans, pending further investigation by the public security organs.

Anxin Trust was established in 1987 and listed on the Shanghai Stock Exchange on 1994. It is the earliest financial listed company in China and one of the few trust listed companies in China.

Gao Tianguo, the actual controller of Essence Trust, was once called a "trust tycoon". In the 20 19 hurun rich list, Gao Tianguo is worth11500 million yuan, ranking 336th.

In fact, since the second half of 20 19, Anxin Trust has been stepping on thunder, and 2 1 project has been sued continuously, involving many banks. Although the amount involved is not as good as that of Sichuan Trust, it is more than 8 billion. Now that the actual controller, Gao Tianguo, has been detained, it is still a long way for investors to safeguard their rights.

In fact, it's not just Sichuan Trust and Anxin Trust that are unlucky. In June this year, Wuhan Gold Jewelry made a profit of 20 billion yuan with 83.03 tons of counterfeit money, which affected many trust companies. Among them, Minsheng Trust, Dongguan Trust, Anxin Trust and Sichuan Trust all involved more than 654.38 billion yuan.

Why do big bosses prefer overseas trusts?

Looking back on the first half of 2020, Sichuan Trust, Anxin Trust and SDIC Taikang were unable to move one after another, leaving a hole of over 10 billion funds. Many investors believe this.

Although many domestic investors are caught in the trust storm, domestic bosses are still keen on trust. The difference is that they choose overseas trusts.

According to public reports, several top domestic tycoons have transferred their assets to offshore trusts, including Liu, Ma Yun of Alibaba, Lei Jun of Xiaomi, Sun Hongbin of Sunac and the founder of Haidilao who immigrated to Singapore.

The overseas trust chosen by big bosses focuses on the inheritance, management and protection of trust property, with the aim of ensuring the inheritance of family assets from generation to generation.

Compared with overseas trusts chosen by big bosses, domestic trusts prefer a wealth management product, issuing wealth management products and raising funds through trust companies. Simply put, trust companies package the project parties with financing needs into trust products and then sell them to investors. The demand side of the project needs to repay the principal and interest while obtaining the funds.

Of course, since it is an investment and a project, it is inevitable to take risks. Therefore, it is not only the investment concept but also the inner strength that tests ordinary investors.