Recently, the People’s Court of Chaoyang District, Beijing held a public hearing on the case involving 6 individual defendants including Shuping HUANG, legal representative of Beijing Xiushui Investment Co., Ltd., and 1 entity defendant Beijing Chinatown Property Management Co., Ltd. for being suspected of being involved the illegal absorption of public deposits. 8 lawyers including lawyer Wei YUAN, Senior Partner of JT&N, were authorized by the defendants to make defense in court.
On May 11, 2018, the People’s Court of Chaoyang District, Beijing held a public hearing on the case involving 6 individual defendants including Shuping HUANG, legal representative of Beijing Xiushui Investment Co., Ltd., and 1 entity defendant Beijing Chinatown Property Management Co., Ltd. for being suspected of being involved the illegal absorption of public deposits.
The indictment of the People’s Procuratorate of Chaoyang District, Beijing accuses the 6 individual defendants including Shuping HUANG, legal representative of Beijing Xiushui Investment Co., Ltd., and 1 entity defendant Beijing Chinatown Property Management Co., Ltd. of illegally absorbing investments from investors including Yuhua FAN and Xiaomeng CUI in the amount of over RMB3 billion at places such as Chinatown Mansion located at No.2 Minzuyuan Road, Chaoyang District, Beijing and IFC located at Yong’anli Community, Chaoyang District, Beijing, during 2009-2015, in the name of leasing the right to use stores within Xiushui Mall No.2 before leaseback and by means of newspapers, introduction and marketing events and other publicity methods. The public prosecution organs believed that the defendants’ act of illegally absorbing the public deposits had constituted the crime of illegally absorbing public deposits as it had disrupted the financial order and involved a huge amount of money.
During the trial, 8 lawyers authorized by the defendants respectively made defense as defenders in court, among whom, Lawyer Wei YUAN, Senior Partner of JT&N, appeared in court as Shuping HUANG’s defense lawyer, and Lawyer Yibo ZHANG, attended the trial as the defense lawyer of Beijing Chinatown Property Management Co., Ltd.
On June 22, the People’s Court of Chaoyang District, Beijing held a public hearing on the case again, and issued a judgment of first instance on the same day. So far, the “Xiushui case” which has drawn much attention from all sectors of society has finally come to the end of the first instance after 3 years of trial. It is reported that 4 of the 7 defendants have filed an appeal and the case has entered the proceedings of second instance.