Lent money to invest in film copyright lawsuits, merchants sued friends to pursue 2.67 million
Translate from: Lianhe Wanbao Published: June 28, 2018 3:37 PM
After Qigong practicing in the Botanical Garden, they talked about investing in movies. A 65-year-old businessman asked his old friends in the same country to borrow US$5 million (about S$6.83 million). Merchants lent money generously, but helpless old friends “borrow money don’t return”, old friends are now in court.
The civil lawsuit opened in the High Court this week. The trial is tentatively scheduled for four days. Local businessman Wu Hejing (65 years old, known as Robert) sued Indonesian Chinese businessman Chén Zéqiáng (Karim Tano Tjandra), referring to the latter in November 2013. After lending him a $5 million loan on the 15th, he has yet to repay all the money.
The claimant stated that Chen Zeqiang still owed Wu Hejing at least US$1.95 million (approximately SGD 2.67 million) including interest.
Wu Hejing from Medan, Indonesia, and Chen Zeqiang are in the same country. Both, who have known each other for many years, have created a great deal in the business world. They have opened several companies individually.
Wu Hejing said in testimony in court this week that on the morning of November 15, 2013, he and Chen Zeqiang and other friends played Qigong in the Botanical Garden, and then went to eat snacks together. Wu Hejing said that in the process, Chen Zeqiang dragged him aside and said that he would give him a private loan of 5 million US dollars.
According to the prosecution’s position, the 5 million US dollars loan was used to invest in the purchase of the copyright of the film “The Biography of Siddhartha” and to invest in Litegrid, a Hong Kong company engaged in fiber optic cable business. When borrowing money, Chen Zeqiang also verbally agreed with Wu Hejing that he would pay off the full amount in one year and pay 6% monthly interest.
The Hong Kong film “The Biography of Siddhartha” produced in 2013 tells the story of Shakyamuni Buddha’s opening of Buddhism and missionary in India, starring Hong Kong actors Ray Lui, Jennifer Tse and Law Kar-ying.
The claimant stated that at the time, Chen Zeqiang was going to invest with Wu Hejing to purchase the copyright of the film in the Singapore, Indonesia and China markets, and to jointly promote the film. In other words, Wu Hejing first helped Chen Zeqiang invest money, but the money was lent to Chen Zeqiang.
After that, from November 15 to May 24, 2013, Wu Hejing transferred the total amount of USD 5.71 million in eight times and paid it to different payees as Chen Zeqiang’s investment in film and fiber optic cable companies.
The defense Chen Zeqiang denied had loaned US$5 million from Wu Hejing, and the case is still under trial.
Defense: Did not go to the Botanical Garden or borrow money
The defense court showed Chen Zeqiang’s passport entry and exit records, saying that Chen Zeqiang did not go to the Botanical Garden to practice Qigong or borrow money because he was flying to South Africa that day.
Accused of borrowing money after practicing Qigong.
Wu Hejing said in his testimony that on the morning of November 15, 2013, after a group of people finished Qigong, Chen Zeqiang specially dragged him aside to talk about borrowing money to invest.
Wu Hejing said: “This kind of borrowing money must be said in private, it is impossible to speak publicly.”
Lawyer Yang Junxian, who represents the defense, accused Wu Hejing of lying on the witness bar because Chen Zeqiang rushed to the airport on the evening of the 14th and flew to South Africa. He was still on the plane the next morning, and Wu Hejing also knew that Chen Zeqiang went abroad.
Lent RM400,000 to help Indonesian friends, couples get trapped in financial trouble
Translate from: Oriental Daily News Malaysia Published: September 23, 2017 18:20
A Chinese couple complained of mistrusting two Indonesian Chinese women, fell into the scam and lent up as much as RM400,000 a year and a half. Now they are in financial trouble and even must sell their houses to pay their debts.
Lài Fúróng (42 years old, Singaporean technician) and Wei Fengyi (36 years old, housewife), live in Senai who are deeply involved in financial problems. They have three children aged between 10 and 6 years old.
Lai Furong said that his wife knew Chen Meiling (transliteration, 42 years old), an Indonesian Chinese woman who was married to Johor Bahru five years ago. Starting around 2015, Chen Meiling contacted his wife again and often went to his home to gain trust.
He revealed that Chen Meiling first borrowed money in May 2016. He lent 1,000 and 2,000 ringgit and she returned it two weeks later.
“Meiling then introduced another Indonesian Chinese woman, Huáng Zhēnnī, to his wife. Zhēnnī said in June 2016 that she was ill and borrowed an operating fee of RM20,000 from me. I have no doubt that she Zhēnnī being discharged from the hospital in a week, and said it would be RM30,000, I also borrowed it.”
He admitted that since the couple believed in Meiling too much and were like relatives to each other, Zhēnnī also said that after receiving the insurance money, she would repay the arrears, so he would not hesitate to lend savings.
Lai Furong and his wife, accompanied by Qiu Xiaoli, Director of the Gerakan Johor State Public Complaints Bureau, held a press conference together to elaborate on their experiences. Participants included Zhèng Cúnxióng, deputy director of the Public Complaints and Services Bureau, Wēn dì, director of the Gerakan Law Bureau of Johor.
Lai Furong revealed that when he later sought money from Zhēnnī, she alleged that he had previously borrowed money from his friend Lì nà to send money back to his hometown, so he had returned the insurance money to Lì nà.
“After that, Meiling told us that her husband’s RM800,000 was frozen by the bank, so she had to pay a tax to unfreeze. Meiling claimed that she had also given Zhēnnī RM50,000, and I didn’t want my friend to lose, so I lent it again. RM8,000.”
Lai Furong said frankly that he believed Meiling and Zhēnnī again and again, and took out a total of RM400,000 in loans, and even borrowed a loan of RM40,000 from loan shark just to help his friends.
“It was not until July of this year that we knew Meiling was a liar, because my wife heard Meiling saying that Meiling had been deceived by a maid broker before and reported it.”
With the assistance of his brother-in-law Mr. Zhang, Wei Fengyi asked Zhēnnī to report to the police station on August 11 to admit that she borrowed money, they promised to pay off RM370,000 in debt within a few weeks, but has not received arrears so far.
Lai Furong said that although he had already paid off loan shark, he still owed personal loans to the bank and borrowed 200,000 ringgits from friends. To understand the difficulties, he had to sell his house.
“I earn about S$3,000 a month (approximately RM9,200), and now my life is really more difficult, and I need help from others.”
Qiu Xiaoli, Director of the Gerakan Johor State Public Complaints Bureau, pointed out that after inquiring with the Immigration Bureau, it was found that Chen Meiling had left the country in August, Asking the police to continue to pay attention to this matter.
He admitted that since the victim Lai Furong borrowed money in cash, only RM5,000 of it was provided to Meiling’s husband by transfer, and now that Meiling has left the country, things will be more difficult.
“The above scam has been laid for a long time. I believe there are other victims. I hope the public can be vigilant, especially the residents of the Kulai and Senai generations.”
Qiu Xiaoli also called Zhēnnī on the spot. She first admitted that she had gone to the police station to borrow money from the police, but then passed the phone to her husband. Zhēnnī’s husband pointed out that the case had been reported to the police and asked Qiu Xiaoli to ask the police, but when Qiu Xiaoli asked several question, he hung up the phone.
In addition, when Qiu Xiaoli contacted Meiling’s husband, he said that his wife had “run away”, and he also quoted that his wife said that the police could not solve the matter and would be beaten if they returned to Malaysia.
Meiling’s husband admitted that he also doubted his wife and claimed that he and his wife had been beaten and had already reported the matter to the police.
Do not lend money to anyone unless you planned it unrecoverable, especially from our neighbors country. According to Jakarta Globe news dated on February 13, 2018, by Sarah Yuniarni, saying Indonesia is among the worst and hardest places in the world to collect debt payment due to lenient payment terms and the potentials of lengthy and costly legal actions, a research conducted by global credit insurance group Euler Hermes showed.