Home » World » Financial Tea Fraud Scandal Rocking Mainland China: 500 Million Yuan Invested Evaporates Overnight

Financial Tea Fraud Scandal Rocking Mainland China: 500 Million Yuan Invested Evaporates Overnight

Another financial tea fraud case is reported in the Mainland! Internal media reported that Guangzhou Changshi Tea Co., Ltd. (hereinafter referred to as Changshi Tea) used high-priced recycling as bait to induce a large number of tea merchants to enter the market after making profits in the first four times. After the fifth issuance, no one took over. As a result, the 500 million yuan (RMB, the same below) invested by more than 500 tea merchants evaporated overnight, and the price dropped from the issue price of 52,000 yuan to more than 2,000 yuan. Some victims lost more than one million as a result. However, the police believed that “this was a spontaneous market behavior by tea merchants” and did not file a case. Netizens said, “It’s not that the scammers are very clever, it’s just because the world is too greedy” and “It’s a scam and a gamble. None of these participants consider themselves to be takers.”

The “Economic Observer” reported that in recent years, the mainland has been creating the illusion of scarcity and high collection value of tea products. Some people have lured tea merchants into the market by promising to recycle them at a higher price than the purchase price, making tea seem to have “room for appreciation” and “investment attributes.” It’s called “financial tea” in the industry.

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However, there have been frequent fraud cases related to investments due to “no written agreement.” According to preliminary statistics from local tea merchants, the latest Changshi Tea dispute involves more than 500 tea merchants and amounts to more than 500 million yuan, making it the largest dispute in the Fangcun tea market. .

It is reported that Changshi Tea entered the local Fangcun tea market more than two months ago and successively launched 4 tea products, attracting the participation of tea dealers with “no written agreement” recycling price. The piece weighs 357 grams (7 pieces per pack), and the price has increased from 30,000 yuan to more than 70,000 yuan, thus attracting a large number of tea dealers. However, Changshi Tea launched its fifth product at a high price. After absorbing a sum of funds, suddenly no one took over, causing the above-mentioned product to collapse overnight, with the unit price falling from 52,000 yuan to only more than 2,000 yuan. Among them, there are many tea merchants who hold tea worth hundreds of thousands to more than one million yuan, and their investment has been reduced to zero overnight, resulting in heavy losses.

After the collapse of Changshi Tea, dozens of tea dealers gathered outside a Changshi Tea store and shouted “refund the money”. Chen Shihong, chairman of Changshi Tea Company, was taken away from the store by the police. Chen Shihong later told the media that he had not promised to return the money. In addition, some tea merchants reported the case to the Public Security Bureau, but the police believed that this was a spontaneous market behavior by the tea merchants, that is, “I made a loss when I bought tea, and now I am not convinced, so I went to the manufacturer to argue”, and due to the lack of ” Promise to recover the agreement” and other evidence, so the case was not filed.

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According to reports, most merchants in the mainland tea market like to participate in “tea speculation” because they can make more money faster than normal wholesale business, and they do not want to believe that they will be the last “successor”. Some people are targeting tea merchants. Weaknesses, luring professional tea merchants into the trap. A victimized tea dealer said frankly, “This kind of scam cannot fool outsiders. Only people in the tea circle know that some teas really have investment and collection value. Only people in the industry will believe that the price of a piece of tea may be as high as tens of thousands of yuan.” .

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2023-12-11 08:20:35

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