Core Viewpoint - The case of illegal fundraising involving Pan Jibiao and others has resulted in a final ruling of life imprisonment for Pan, who was found guilty of multiple crimes including fraud and money laundering, with the total amount raised exceeding 911 billion yuan, leading to significant financial losses for investors [1][2]. Group 1: Legal Proceedings - On December 18, 2025, the Hunan Provincial High Court upheld the first-instance ruling against Pan Jibiao, confirming the life sentence and the confiscation of all personal property [1]. - The first-instance court had sentenced Pan Jibiao to life imprisonment for crimes including fundraising fraud, money laundering, and border crossing, while other defendants received prison terms ranging from five to twenty years [1][2]. Group 2: Fundraising Scheme - From November 2011, Pan Jibiao and associates raised over 911 billion yuan through fraudulent means, promising high returns to investors while misusing the funds for personal expenses and operational costs [2]. - The company, Shengda Jinxiy, operated without the necessary licenses to accept public deposits, misleading investors with promises of annual returns between 12% and 14% [4]. Group 3: Company Background - Shengda Jinxiy was founded by Pan Jibiao in 2011, expanding its financial services across Hunan and neighboring provinces, and later acquired a Hong Kong-listed company, renaming it Jinxiy International Holdings [2][4]. - The company claimed to provide a platform for connecting quality capital with projects, but it was classified as an unlicensed financing intermediary [4]. Group 4: Investor Impact - The fraudulent activities led to economic losses exceeding 129 billion yuan for investors, with over 100 billion yuan in unpaid investments reported [2][8]. - Following the disappearance of Pan Jibiao in November 2022, the company faced severe operational challenges, leading to a public announcement regarding the inability to meet contractual obligations [6][8].
非法集资911亿元，“金融大鳄”盘继彪终审被判无期！他还犯洗钱、偷越国（边）境罪等