SHANGHAI / Hong Kong / BEIJING – Zhu Lei Chenxia offered three deals at the beginning of last year to buy a full Yarong market, Shenzhen Nanshan district, China Southern Metropolis, two women to meet many.
It’s just a real one.
According to a report sent to the Shenzhen court, 6490000 yuan (about US $ 980,000), and Hong Kong to pay an annulment of the legitimate Zhu Lei close to an apartment of 96 square meters on the border with the city. Zhu, together with the agency, signed another contract with Lei, which overestimated the value of the apartment by 7 million yuan. This is for the bank.
Zhu should have the right to borrow up to 70% of this amount up to 4.54 million yuan, when the lender is offered for the actual purchase price. The Chinese regulations stipulate deposits of at least 30% to reduce the risk-taking ability of first-time homebuyers in large cities. Higher values convince the Central Bank of China to lend to Zhu 4.85 million yuan, which is less lending to lenders.
The fraud details include Zhu’s dispute and court rulings regarding the Act on Transactions. Importantly, Zhu explained that the couple had a fight with the court that they had proof of being expelled by the bank and government.
As the goal of zin’a is to protect the banks of mortgage fraud, clicking some rules banking, there is a roar of the real estate market of China, the people of the assets as such real estate agents are open to interviews with buyers, sellers, dozens of lawyers, bankers, valuation experts and the three largest cities in China credit brokers from four small towns. Many people are reluctant to notice or be involved in reprinting the credit, industry, and sincerity of this fraud.
This work of fraud is often resounding and real estate brokers, real estate brokers, real estate agents, as well as Zhu Lei dispute shows that the use of unregistered debtors in China’s forensic registry based on things get a fraud for other purposes, valuations and other criminals, including banks, by impulse.
These crimes are probably rarely punished. Both members of Zhu and Lei do not have a fraud penalty.
Hu Weigang, Guangdong Shen Dadi law firm’s major partner, the implementation of the continental law, it can lead to Hong Kong, which creates false documents in prison. However, he confessed that this radio was made almost impossible.
You can not jail anyone like everyone else when you do it, “Hu said.
Mortgage fraud is a big hidden risk because property prices continue to rise in China because subprime loans saw the United States before the 2008 global financial crisis. The horror is that the fraudulent mortgage property will collapse and leave the price increase, which will accelerate housing, the second largest economy in the world. This will further affect China’s debt-rich financing system.
The communist party, which is clearly dominant in the risk of seriousness in housing prices. Speaking at the 19th General Assembly meeting, Marathon, Chinese President Xi Jinping warned of the overheated real estate market. “The house was built for life, not for speculation,” he said.
The bank is also worried. Xu Zhong, president of the People’s Bank of China Central Bank, sees the attack. Xu said in September that the central bank’s control of the records would be “in September,” “We should also know that the rapid growth of housing prices will not only prevent economic development but also cause the system to have risks and adverse macroeconomic effects.” .
Fraud including comprehensive mortgage lending is simple: lack of fear.
Millions of homeless people are enjoying prosperity. The average residential building in China has three battles between 2000 and 2015 for the huge real estate market that emerged from the first decade of economic reform.
So far, China’s new internal scores are still facing weak homes. The official price of 2016 increased by 12.4 percent, the fastest increase since 2011. The development of local price reports at the Chinese Academy of Social Sciences (think tank) showed that 33 big city prices are rising. Evidence shows that most of the big cities in China have doubled or tripled since late 2015.
For some Chinese, buying a house is a temporary knight in the middle class. Housing prices rose by 2016, according to a survey, 37 out of the most developed cities in China, the wealth of 24 billion yuan families doubled the total income of about 12.9 trillion yuan. From March to Deutsche Bank.
Getting a mortgage loan is attractive to many buyers who do not have money or deposits playing illegally when applying for a fake loan. According to local real estate agents, the complex of Haiyue Garden has increased by 40% over the last two years, with Zhu purchasing asunnons.
Zhu has the right to earn money. It does not want to share capital gains with the board. According to his third contract with him, only 2.8 million yuan in Shenzhen apartments is less than half of the real value, according to court documents. The contract should be sent to the taxpayer side. Because of this amount, Zhu will allocate more than 50,000 yuan in taxes according to the regulations of Shenzhen.
In most cases, counterfeit credit practices remain hidden while prices are rising and buyers are thinking about your credit. The coup in the Zhu case was only evident when Lei fell with the merchant.
Chinese Bank using counterfeit loans
The actual contract between the two women stated that Lei agreed to pay an additional 310,000 yuan, which Zhu raised from the Chinese Bank using counterfeit loans. It is not clear from the legal documents what Zhu wants to do with the extra money. In fact, the bank will pay some of Zhun’s savings. However, he said Zhu Lei did the same and saved money.
The evidence document shows that Zhu sued Lei last year to save money and interest. When the law was brought to court, he explained the details of a false contract with Zhu Lei.
Zhu explained the agreement, which was a Yin-yang agreement widely used in the Chinese real estate market with Lei in the stance; which means that real and fake contracts work side-by-side.
According to Denny Jiang, a former banker and home buyer in Beijing in the near future, almost all commercial agreements made with Chinese real estate today are some elements of Yin-yang.
Zhu wants to confess to the court that in China such fraud is not a serious offense. The People’s Congress of Nanshan District completed the Zhua because the sellers and buyers were dealing with fraud.
Zhu then called the Shenzhen Arbitration Court, claiming that the couple had entered the system in accordance with a legal agreement.
The Appeals Board also found that both women were fraudulent. He also claims that Zhun has the right to benefit from this plan. The court ruled that Zhu, given by the Lei bank fraudulently, would pay the money – even if the couple committed “illegal behavior”. Lei’s lawyer said he was condemning him. The Chinese central bank did not respond’ massive anti-fraud fraud cases or claims in China.
Zhu’s lawyer, Zhou Zhengfeng, refused to ask questions or questions from Zhu in the case of his client.
In an interview, the lawyer is honest about the prevalence of housing dishonesty. Alicia, the buyers actually used the bank’s money to speculate on real estate. “In recent years, Shenzhen is in a better position to get more credit,” said Zhou, an expert at Shenzhen’s office in the Chinese Commercial Court. “Very crazy”
Law, attorney Xuan Hong Xian, refused to interview an associate of Guangdong Wansheng, a law firm in Shenzhen. Xuan said that it was a very unfortunate court decision.
Xuan said that the dispute between the couple is not related to the refusal of the law to hand over the extra money obtained from the Zhuo bank. Xuan, on the other hand, said that he was sued if Zhu differentiated from a portion of the Yasan’s contract rate. Xuan Lei said he was willing to give the money back to the bank.
Mortgage fraud does not have to be as big as Zhun and Lei Simple bribery is also effective.
A Hong Kong investor called Fu, refusing to give his full name at the time he accepted the crime, saying he was building on a traditional red gift of 20,000 yuan (about US $ 3,000) in his statement, rate. He wants to buy 40 percent in Shenzhen. This has boosted the bank’s desire to lend 1.26 million yuan
It is clear that some lenders are aware of this darben while regulators are setting up banks to monitor prudential requirements. According to industry standards, the use of high ownership valuations for larger credits often involves bank staff, “the decision of 2016 is at the Intermediate Court of People’s Court in Shenzhen.
According to the Interior Ministers, real estate agents play an important role in the mortgage market. China has a very few educated but very motivated agents to make sales.
Is a Centaline broker in Hong Kong’s large bureau that helps Zhua sign a fake sales contract and the law discloses the case file for the case. Centaline said he did not find any administrative documents indicating that the property was more valuable to secure a higher mortgage. He said he forbade his employees from helping property owners.
The interviewed 12 real estate brokers selling new and existing homes who say they help customers avoid bids. E-House Another experienced sales company in China’s real estate company, Shanghai, said that about 50% of customers are interested in fraud. The person refusing to identify and the company can not find the answer to the question.
Realtors generally prefer to use “credit to secure a safe debt”. This credit tool created an industry that responded to credit requests that did not reach the level of credit.
Banks that want to reach their credit targets will also offer borrowers from these agencies, according to people in the real estate sector. The use of credit brokers ensures that they are kept in accordance with the bank’s purposes.
Working with small offices, often pensioners, borrowers “repackage” documents for mortgage applications or have made false documents.
“About 60% of the real estate buyers in Shanghai are repackaging,” said Jack Xiao, a broker for ten years.
An online chat group with names like “Shanghai Ipoti Eathesi” is filled with ads that represent agents who advertise their products. “If you are black or white, we can get a mortgage for you,” he said – which means that credit customers are good or bad.
China is openly debating false documents that are necessary to buy drugs, buy houses, or avoid taxes and expenses. Recent reports from WeChat, China’s largest communications platform, compared to the price of counterfeit documents in different cities
Recalling the steady increase in real estate sales due to the rise in real estate prices, the government-provided media interpreted the fact that the premium payment plan provided sufficient bank buffer with the change of prices. This requirement differs from the closing of the zero credit subprime loan credit for the US market loss in 2008.
Many buyers in China also include loans that meet their down payments. Among them, Fu, who wants to invest in Hong Kong, said he was bribing to get the value of the property he wanted to invest. He lent one million yuan from the financial institution by prepaying 2% per month. When the bank sends a mortgage, it pays and pays the property
Centalinen, an office property in Hong Kong, reported that about 30 percent of its customers were called third party deposits. Shanghai Housing Bank Shanghai Pudong Development Bank invested about 20-30%. Centaline said employees’ views do not represent the company’s position; The bank said illegal spending would definitely be banned in the real estate market.
Under normal circumstances, getting a loan to finance money payments, such as small, borrowed and uncontrolled lenders, there is no other way to monitor how the money market companies are used, or the fees paid to the company’s small lenders are called interest.
Chinese bank regulators said lenders need to consider real estate investment, consumer credit. Official figures show that short-term domestic debt stock in 2017 rose by about 243 percent to 1.6 trillion yuan in the first ten months of the previous year.
Loans and intermediaries also help to transfer bank funds to other real estate. For example, banks may take credit restructuring loans, but according to internal credit rules, credit revenue is kept at the account of the employer. So a credit agency is doing business with a business account that makes a bet on the bank.
Li Longteng signed an agreement in 2016 to buy a building worth 1.25 million yuan in Guangzhou Mai Bixian. The agreement came later, because Li, a resident of Hunan, could not buy a property in Guangzhou. He has decided not to sell since then.
Li keeps Maia in his possession and, according to the agreement, he wants to pay the standard and makes a pass on the documents related to the Guangzhou Court. The data show that Mai is telling the court that the commissioner and the bank are designed to help pay Li for a rescue bank loan, as well as deposit money on deposits. pay for the scene. Li and the broker said the bank offered a credit request to the court.
In the end, there was no fraud because the deal was destroyed until no credit was given. The court ruled that Li was not fit to buy a building. Li’s lawyer told his client refused to comment. Questions The lawyers have not been answered yet.
Bankers-bankers are seldom increasing due to examining the use of consumer loans or accepting the refinancing of mortgage applicants – by price increases and long-range standards.
Some commentators, real estate agents and developers allege that Beijing could revise Beijing’s market correction because it dominates the capital, many reserves, excessive accountability of the current account, and the government’s financial system. The authorities also supervise the period of the land.
House prices in China have fallen this year. However, local authorities and authorities are worried about the threat of real estate bubbles.
As of April, more than 40 large cities in China demanded the purchase of a new house in some cases two or three years before it was sold to speculate. Authorities also need fraud surveillance
The National Bank invited borrowers to protect
In August and September, the National Bank invited borrowers to protect borrowers who channel personal loans for real estate, according to national media . The regulator also instructed banks to release Yin’s contracts and charges – according to official reports that the bank was sent to the bank and considered last month.
People in the real estate market see a small chance for an effective approach to fraud unless banks work together. Lei Yarong’s lawyer, Xuan Hong Xia, last year got a case in which our company represented a salesman in real estate deals. Buyers and agents estimate property. Xuan’s law office responds to banks for fraud, but creditors ignore the warning.
“Obviously, banks do not consider this to be serious,” he said.