据ZeroHedge报道，在上一轮危机以来最明目张胆的行业自利行为中，美国私募股权巨头正以创纪录的 速度将资产出售给自己。 为了支撑其摇摇欲坠的帝国，这些机构正在采取一种被外界指责带有绝望色彩和庞氏骗局特征的策略： 不仅让新投资人成为"接盘侠"，更借此无限期锁定管理费收入。 Raymond James 的数据显示，2025年这类涉及私募公司从新投资者处筹集资金、购买自身旧基金投资组 合的交易预计将达到惊人的1070亿美元，远超去年的700亿美元。这种被称为"接续基金"（continuation vehicles）的工具，允许私募巨头向急需资金的旧基金有限合伙人返还资金，同时保持对资产的控制 权，更关键的是，这让管理费和附带权益（carried interest）的计时器得以重置。 这种操作模式引发了市场对利益冲突的强烈担忧。私募公司在交易中身兼买卖双方，实际上主导了资产 从其一个"口袋"转移到另一个"口袋"的定价权。养老基金等有限合伙人担心，管理者可能故意压低估值 以损害退出投资者的利益，从而为新基金未来的高额回报铺路。 尽管 Jefferies 等机构预计全球相关交易量将逼近1000亿美元，且行业内部将其美 ...

Core Viewpoint - The Shenzhen Jinyafu Holding Group, once a prominent player in the "China Top 500 Enterprises" list, has faced a sudden collapse by the end of 2025, transitioning from a symbol of wealth to a state of debt and disputes [2][3]. Group 1: Company Overview and Crisis Development - Jinyafu's crisis began in June 2025 when its high-yield financial products, centered around "golden entrusted purchase and sale," started experiencing interrupted returns, leading to widespread defaults by November, with estimated funds involved reaching 7 to 8 billion yuan [3][4]. - The company's headquarters in Shenzhen has become deserted, with reports of unpaid rent and utilities, indicating a complete operational shutdown [2][3]. Group 2: Investment Model and Legal Concerns - Jinyafu's investment model involved a dual contract structure, where investors signed a "gold physical purchase contract" and subsequently a "trust contract" with an affiliated company, promising fixed annual returns of 8% to 14% [6]. - Legal experts have pointed out that this model exhibits characteristics of a Ponzi scheme, as the promised high returns are not supported by actual profits from gold trading, which typically yields a net profit margin of only 2% to 3% [7][10]. Group 3: Investor Impact and Response - Many investors, including employees of Jinyafu, have reported significant financial losses, with some investing large sums under the belief of guaranteed returns, only to find themselves in a precarious situation as the company ceased operations [7][8][10]. - The local government has intervened, forming a task force to oversee the situation, while proposed solutions like "debt-to-equity swaps" have been met with skepticism from investors [12][14]. Group 4: Regulatory and Legal Implications - The case highlights regulatory gaps in the "industry + finance" crossover model, where Jinyafu exploited a lack of oversight by presenting itself as a legitimate trading entity while engaging in illegal fundraising activities [14][15]. - Legal experts suggest that if classified as illegal fundraising, the contracts could be deemed void, and investors may have the right to claim their funds back through law enforcement [14][15].

摘要：今天，我们就来完整复盘先锋金融与网信案的来龙去脉：它如何借风口崛起，又为何突然崩塌？ 当前案件进展如何？留给行业和投资者的启示又有哪些？ 2025年6月，一则"先锋支付被正式吊销营业执照"的消息，再次将沉寂数年的"先锋系"拉回公众视野。 这个曾横跨互联网金融、第三方支付、公募基金等多个领域的资本巨鳄，从巅峰时的千亿版图，到如今 核心资产清算、创始人客死他乡、600多亿资金待兑付的残局，其兴衰史堪称中国互联网金融泡沫破裂 的缩影。 一、狂飙二十年：从担保公司到千亿金融帝国 先锋系的故事，始于2003年的大连。这一年，经济学硕士出身的张振新创立联合创业担保集团，凭借传 统担保、租赁、典当等类金融业务积累原始资本，这也成为先锋系金融版图的起点。与"明天系""安邦 系"直接控股传统金融机构不同，先锋系的扩张路径更具"互联网时代特色"——以科技为幌子，构建"金 融+产业"的复杂生态。 2009年，先锋系通过收购港股上市公司中国信贷科技，拿到了重要的海外融资平台，资本运作的齿轮正 式转动。真正的爆发则在2013年之后，随着国内互联网金融浪潮兴起，先锋系精准抓住风口，推出核心 平台"网信理财"，以高收益产品快速吸纳公 ...

让我们回顾这起令人震惊的事件：一位投资者抵押房产，投入高达700多万元购买金雅福的黄金理财产 品，然而一夜之间，公司人去楼空，当初承诺的本金和收益，如今都化为泡影。 你是否也曾认为，投资黄金是最稳妥的避险方式？金雅福的案例却无情地击碎了这种幻想。这家自2006 年起便活跃于黄金珠宝产业链的公司，一度以其光鲜的外表和高收益承诺，赢得了众多投资者的信任。 金雅福不仅销售黄金，更承诺通过其关联公司深圳博耀进行委托投资，年化收益率高达8%。 然而，美好的承诺背后，隐藏着怎样的真相？无数投资者将毕生积蓄，甚至抵押房产投入其中，渴望获 得稳定的收益。然而，到了2023年11月，理财产品却开始频频延期兑付，许多人甚至从未亲眼见过一块 实物黄金。一位投资者悲痛地表示："我投进去700多万，三套房都搭上了，结果连一点本金都拿不回 来。"这不仅仅是个人的不幸，更是无数投资者的心声。 深圳金雅福的崩盘，犹如一记重锤，狠狠敲醒了那些迷信黄金理财的投资者。一场精心包装的"富贵 梦"，最终沦为令人心碎的噩梦。 金雅福事件引发了深刻的反思：监管部门虽已介入，但为何金雅福这类企业能够形成庞大的"自有资金 链"，并在短短几年内堆积如山的资金？ ...

累树由Al生成 专骗养老钱的新套路 2 司 北海 · 不法分子利用老年人对"区块链""数字货币""虚拟 货币""元宇宙""数字藏品"等科技概念的认知空白, 将其包装成"低风险高收益"的"风口投资项目",以 "短期回本、收益翻倍"为噱头,通过线下讲座、社区 推广诱导投钱 实际上,这些所谓的"项目"既无实际业务、也 无盈利模式,本质是"拉人头赚佣金、炒概念劲 本金"的庞氏骗局 国家免费发放养老补贴 语时刻关注 …… 随着科技发展与养老需求增长，不法分子针 对老年人的诈骗手段愈发隐蔽多样,如虚假 投资、AI骗术、高息集资、免费陷阱等,精 准拿捏老年人认知盲区 · 育路 大爷,新型报资项目了解一下 这玩意真能赚钱吗 线得试试 套路三 婆婆,相信我们 不会骗人的 白纸黑字的国家政策, 应该不会有差错 高息理财陷阱: El E S 年人 完 3 3 HATE LEVALLE V TD 2 2 2 11 賽 : 点击下方链接,即可领取! AI骗术三重目猎: 情准突破专年人心理防线 不法分子借AI技术,利用老年人辨别能力较 弱和对"权威信息""情感关怀"的信任心理, 设三类骗局: Al仿真主播编造虚假政策,制造"认知偏差"。 ...

Core Viewpoint - The "Yuzhi Financial" virtual currency investment platform has collapsed, leading to significant losses for investors despite prior warnings from regulatory authorities about the illegality of virtual currency activities [1][24][45]. Group 1: Platform Operations and Structure - "Yuzhi Financial" claimed to offer a high annualized return of 360% by utilizing a "6G Hongmeng System" developed in collaboration with Huawei, which was presented as a tool for real-time trading signals [3][27][30]. - The platform's promotional materials falsely stated that it was listed on the "Hong Kong Equity Trading Display Center" under the stock code HK31919, which was later found to be untrue [4][27]. - The platform employed a multi-level distribution system, incentivizing users to recruit new members, which contributed to its rapid user growth and the formation of a large-scale scam network [31][33]. Group 2: Investor Experiences and Losses - Many investors reported being unable to withdraw their funds, with one investor stating that she was unable to retrieve her money after being encouraged to reinvest during a promotional event [1][25][36]. - The platform attempted a "second harvest" by requiring users to pay a "self-certification deposit" of 20% of their total assets, locking their funds for 60 days while only allowing minimal withdrawals [2][12][41]. - Despite recognizing the signs of a scam, some investors continued to invest due to the allure of recovering their initial investments, demonstrating a common psychological trap among victims [26][41]. Group 3: Regulatory Context and Challenges - The collapse of "Yuzhi Financial" occurred amid intensified regulatory efforts in China to combat virtual currency risks, with the People's Bank of China reiterating that virtual currencies do not have legal status and are illegal financial activities [21][45]. - Local governments had issued warnings about the platform prior to its collapse, indicating that it lacked the necessary financial licenses and had not registered its app [22][46]. - Regulatory challenges persist as new types of Ponzi schemes often operate offshore, making it difficult to enforce laws and recover funds [47].

Core Viewpoint - The article highlights the collapse of a virtual currency investment platform named "Yuzhi Financial" amid increasing regulatory scrutiny in China, leading to significant investor losses due to its fraudulent operations [1][12]. Group 1: Platform Operations and Fraud Mechanism - "Yuzhi Financial" lured investors with promises of high returns, claiming annualized yields exceeding 360% through a complex multi-level distribution system [5][6]. - The platform employed tactics reminiscent of Ponzi schemes, using funds from new investors to pay returns to earlier investors until the financial chain broke [1][6]. - Despite the platform's collapse, it attempted a "second harvest" by requiring users to pay a "self-certification margin" of 20% of their total assets, locking their funds for 60 days [2][8]. Group 2: Misleading Claims and Technology Use - The platform falsely claimed to have developed a "6G Harmony System" in collaboration with Huawei, misleading investors about its technological capabilities [3][10]. - It also misrepresented its status by claiming to be listed on the "Hong Kong Stock Exchange" under a fictitious stock code, which was not found on official records [4][11]. Group 3: Regulatory Context and Warnings - The collapse occurred against a backdrop of intensified regulatory measures against virtual currencies in China, with the People's Bank of China reiterating that such activities are illegal [12][14]. - Local governments had issued warnings about "Yuzhi Financial" prior to its collapse, indicating it was operating without the necessary financial licenses [12][14]. Group 4: Investor Behavior and Psychological Factors - Many investors, despite recognizing the risks, continued to invest due to the allure of recovering their initial investments, demonstrating a gambler's mentality [14]. - The rapid spread of such scams is facilitated by the public's blind trust in high-tech claims and the allure of quick profits, which diminishes rational judgment [10][11].

Core Viewpoint - The article highlights the collapse of a virtual currency investment platform named "Yuzhi Financial," which operated under the guise of high returns and advanced technology, ultimately leading to significant investor losses due to its fraudulent practices [1][4][27]. Summary by Sections Platform Operations and Fraudulent Practices - "Yuzhi Financial" promised investors a staggering annualized return of over 360% through its so-called "6G Hongmeng System," which was falsely claimed to provide real-time trading signals [5][24]. - The platform employed a Ponzi scheme structure, using funds from new investors to pay returns to earlier investors, leading to its eventual collapse when the funding chain broke [1][10][12]. Investor Experiences - Many investors, lured by promises of high returns, found themselves unable to withdraw their funds as the platform entered a "runaway" state, with reports of users being unable to cash out their investments [1][2]. - A notable tactic involved the platform's "leader" demanding a "self-certification deposit" of 20% of total assets from users, further locking their funds for 60 days under the pretense of maintaining platform health [2][21]. Marketing and Recruitment Strategies - The platform utilized a multi-level distribution system disguised as investment opportunities, incentivizing users to recruit others, which accelerated the spread of the scam [7][10]. - Promotional materials claimed a user base of 3 million, a figure that lacked substantiation and was likely inflated to attract more investors [7][10]. Regulatory Context and Challenges - The collapse occurred against a backdrop of intensified regulatory scrutiny on virtual currencies in China, with authorities reiterating that such activities are illegal and pose significant risks [27][28]. - Despite clear warnings from regulatory bodies, the platform continued to operate, exploiting loopholes and the lack of effective enforcement against such schemes [30]. Psychological Factors and Investor Behavior - The article notes a concerning trend where investors, even after experiencing losses, continue to seek new investment opportunities in similar schemes, driven by a gambler's mentality [30].

骗局 承诺周收益超10% 每周都能拿到分红 张先生向南都记者讲述了其与母亲陷入这场骗局的经过。今年5月，一位其母亲平时很少联络的朋友突 然登门拜访，推荐"粤港澳大湾区App"(目前已改名为"共建大湾区App")。对方声称，这个平台的产品投 资收益率极高，而且每周都能拿到分红。"刚开始我们也半信半疑，对方就说，如果不信，可以先投几 百元试试看。"张先生回忆道。 制图:黄亚岚(即梦AI生成) 周收益超过10%，不但有分红，还能拿补贴?这样高回报的"投资机会"，听起来诱人，背后却可能是一 场精心设计的"骗局"。近日，财政部发布声明称，有不法分子伪造财政部公文，在社交媒体上传播"粤 港澳大湾区政策红利发放"有关虚假信息，诱导网民下载"粤港澳大湾区App""共建大湾区App"进行投 资。 南都记者深入调查发现，"粤港澳大湾区App""共建大湾区App"等山寨App冒充官方名义，打着投资还可 拿"政策补贴"的幌子，吸引了不少受害者投资。有投资者告诉记者，该平台上的投资产品收益率远高于 市场水平，周收益可高达10%以上，其自7月底参投以来，投资了近7万元的本金却从未拿到过分红，平 台承诺的60万元"补贴"也只是躺在平台账户 ...

周收益超过10%，不但有分红，还能拿补贴？这样高回报的"投资机会"，听起来诱人，背后却可能是一 场精心设计的"骗局"。 近日，财政部发布声明称，有不法分子伪造财政部公文，在社交媒体上传播"粤港澳大湾区政策红利发 放"有关虚假信息，诱导网民下载"粤港澳大湾区App""共建大湾区App"进行投资。 南都N视频记者深入调查发现，"粤港澳大湾区App""共建大湾区App"等山寨App冒充官方名义，打着投 资还可拿"政策补贴"的幌子，吸引了不少受害者投资。 有投资者告诉记者，该平台上的投资产品收益率远高于市场水平，周收益可高达10%以上，其自7月底 参投以来，投资了近7万元的本金却从未拿到过分红，平台承诺的60万元"补贴"也只是躺在平台账户里 的数字。 此前，粤港澳大湾区发展办公室通过官方微信公众号提醒公众谨防相关伪冒粤港澳大湾区发展办公室 App，多地警方也针对此类骗局发布过警示。广东国智律师事务所高级合伙人胡亘周律师分析称，该投 资平台疑似为庞氏骗局，已涉嫌诈骗罪。 承诺周收益超10%，"拉新"还有佣金 7万元投资可领超60万元"补贴"？ 张先生向南都N视频记者讲述了其与母亲陷入这场骗局的经过。今年5月，一位其母亲 ...