Clothing Started As An Investment Company, Which Owed Tens Of Millions Of Debts In Ten Years

do clothing Liu started his investment business in order to make money more quickly. Unexpectedly, he got himself bogged down. Recently, the police of Fuyang Public Security Economic Investigation Brigade came to him on suspicion of illegally absorbing public deposits.

Since the 1980s, Liu has been selling clothes in the commercial city and has done a good business. Before starting an investment company in partnership, he said that he had at least several hundred thousand yuan of capital on hand after removing family and personal expenses.

In 2004, Liu and two friends started an investment company. As a result, the company lost 5 million yuan in the past year, and the money released could not be recovered.

After the financial crisis in 2008, business became more and more difficult. "There are so many debts already, and I always want to look at them". Under this mentality, Liu did not stop, but borrowed more money to earn more interest. However, from 2008 to 2010, the funds he lent were basically unable to be recovered.

At this time, Liu's clothing store also lost one million yuan. As a result, the funding gap became bigger and bigger, and Liu had no choice but to borrow money from others to repay the previous debt and pay interest. By last June and July, the funding gap was too big to turn around, and he was in debt everywhere.

The debt collectors came all day long. Liu mortgaged two houses to the creditors, and a villa and an Audi were seized by the court.

According to the police, Liu was involved in more than 50 million yuan, and more than 10 people had direct debt relationships with him. Most of these people's money was collected from relatives and friends in the name of "investment". It is difficult to count how many victims there were.