Xin Lang Cai Jing·2025-08-05 00:41Core Viewpoint - A life insurance agent from China Life Insurance Company has been banned for life from the insurance industry due to fraudulent activities involving the deception of policyholders [1][2]. Group 1: Fraudulent Activities - The agent, identified as Tian, deceived 17 victims by fabricating a high-yield insurance product named "Hongxin," promising an annual interest rate of 16% and capital protection [3][5]. - From December 2013 to September 2019, Tian defrauded victims of a total of 3.6568 million yuan (approximately 0.57 million USD) [3][5]. - Tian provided victims with fake receipts from China Life, which were later revealed to be invalid and created using old materials from his previous insurance work [3][6]. Group 2: Legal Proceedings - Initially sentenced to 11 years in prison and fined 200,000 yuan (approximately 30,000 USD), the case was later sent back for retrial due to procedural issues [4][10]. - The second trial confirmed the original findings, stating that Tian's actions constituted fraud rather than illegal public deposit absorption, leading to the upholding of the original sentence [9][10]. - The court emphasized that the evidence was sufficient to establish Tian's intent to illegally possess others' money through deception [9].