1月6日，最高人民检察院官方微信平台发文，披露一起新型金融犯罪团伙的落网细节。该团伙借正规期货 账户"下蛋"，利用分仓软件复制非法交易入口，以招聘操盘手为幌子，实则赚取高额手续费与分成。 2025年12月30日，北京市朝阳区检察院召开金融检察白皮书新闻发布会，系统通报了近两年金融犯罪的新趋 势、新特点。在该院办理的一起非法经营案件中，不法分子通过价格仅为5000元的分仓软件开展非法期货交 易，总交易额高达4.37亿元。 同年8月21日，经朝阳区检察院依法提起公诉，法院以非法经营罪分别判处被告人王某、钱某有期徒刑一年， 缓刑一年，各并处罚金。 王某等人为其非法平台招揽客户的手段是以"招聘精英操盘手"的名义。在其发出的《投资顾问选拔协议》中承 诺，"公司提供20万、30万、40万、50万、100万资金量不等的实盘账户"，并称"盈利超过30%即可通过考 核"，"盈利的90%每周结算给操盘手"。 据王某供述，公司提供的交易本金来源有两部分：一是王某、钱某的自有资金及操盘手的少量入金；二是王某 通过其控制的另一家公司——来财公司（化名），此前以私募基金名义募集的资金。该基金因触及清盘线无法 继续运作，王某便与客户签订借 ...

来源：检察日报正义网 分身术 5000元工具的"裂变"之谜 这一切非法交易的核心，来源于王某、钱某所购买的一款价格仅为5000元的分仓软件。它能够将一个在正规期货公司开设的实体母账户，在后台拆分成多 达15个独立的交易端口。这些由王某、钱某掌控的交易端口，无需在期货公司进行任何实名认证开户，即可进行期货交易。这些端口的交易指令，最终都 汇聚到母账户，并由其统一报送至交易所。 从客户角度看，在正规期货公司开户交易，期货公司需对客户进行全面的尽职调查，评估其身份、交易经验和风险承受能力等。而分仓软件下的子账户交 易，绕过了这一核心的账户实名监管要求，使得那些可能存在不良信用记录、风险承受能力不足或缺乏必要交易经验的客户，得以规避监管，进入高杠 杆、高风险的期货市场。这无疑为不符合资质的客户打开了"后门"，也为非法交易活动提供了隐秘的温床。 那么，王某等人为何要铤而走险替他人提供"便利"？ 原来，王某自2009年便进入期货行业，凭借自身期货交易经验丰富，收益颇丰。2019年，他开始创建自己的投资公司，并让朋友钱某负责公司行政后勤事 务。二人萌生了搭建自己的交易团队、进行多策略稳健操作的想法，他们的动因很明确：一是通 ...

Core Viewpoint - The article emphasizes the risks and regulatory challenges associated with spot trading, particularly in commodities like precious metals and oil, highlighting the prevalence of illegal futures trading disguised as spot trading [2][3]. Group 1: Understanding Illegal Futures Trading - Many spot trading violations stem from activities that are essentially illegal futures trading, which can be identified based on specific regulations issued by the State Council [2]. - Key characteristics of illegal futures trading include standardized contracts, centralized trading, and a lack of intention for physical delivery [3]. Group 2: Warning Against Violations and Scams - Investors should be cautious of fraudulent trading and fake platforms that manipulate data and create false market conditions to lure investors into frequent trading, leading to significant financial losses [4]. - Market manipulation and betting models are prevalent in some illegal platforms, where the platform's profits come from investors' losses, creating incentives for price manipulation [4]. Group 3: Regulatory Dynamics and Legal Protections - The government has been continuously cleaning up the spot trading market since 2011, with increasing regulatory measures and law enforcement actions [7]. - Judicial protections have been strengthened, with courts ruling illegal spot trading as void and supporting investor compensation in various cases [7]. Group 4: Identifying and Preventing Violations - Investors must verify the qualifications of trading entities, ensuring they are approved by the China Securities Regulatory Commission [8]. - It is crucial to be wary of marketing tactics that promise guaranteed returns and to ensure that funds are transferred to regulated accounts [8].

Core Viewpoint - The recent surge in gold prices has led to significant financial distress among gold merchants in Shenzhen's Shui Bei area, where many have defaulted on their obligations despite the rising market prices [1][3]. Group 1: Market Dynamics - Gold prices have increased by over 120 yuan in the past six months, reaching a peak of 835 yuan per gram on September 19 [1]. - Merchants were expected to profit from rising gold prices, but many have instead fled with customer deposits due to poor risk management practices [1][3]. Group 2: Lock-in Price Mechanism - The "lock-in price" system was designed to protect merchants from price fluctuations by allowing them to pay a deposit to secure a price for future transactions [3]. - However, some merchants, like Yue Baoxin, failed to hedge their positions in the futures market and instead speculated on price drops, leading to substantial losses when prices rose [3]. Group 3: Regulatory Environment - There are longstanding gray market practices in Shui Bei, where refined gold is traded outside of regulated exchanges, increasing the risk of unmonitored transactions [4]. - The recent implementation of "invisible regulation" in Luohu has reduced oversight on reputable businesses, allowing speculative practices to flourish without scrutiny [4]. Group 4: Risk and Speculation - The low deposit requirement of 2.4% allowed small merchants to leverage large amounts of gold, effectively turning customer deposits into speculative bets rather than legitimate business transactions [3]. - The situation highlights the dangers of greed and speculation in the gold market, where the original intent of risk management tools has been subverted into high-stakes gambling [4].

Group 1 - The core issue revolves around the collective disappearance of over ten gold material suppliers in Shenzhen, leading to significant financial losses for many investors, with claims of amounts exceeding 200 million [1][3] - Most suppliers listed in the rumors are still operating normally, with only a few, such as "Junhao" and "Yuebaoxin," having paused operations, and the reported financial losses have been exaggerated [3][5] - The police have intervened, and the situation has affected hundreds of merchants and consumers, with losses typically exceeding tens of thousands for each affected party [5][9] Group 2 - The suppliers, known as "liaoshang," are responsible for sourcing gold from upstream suppliers and selling it to downstream merchants, often locking in prices and collecting deposits [7][8] - Some suppliers engaged in risky practices by delaying delivery to speculate on gold price fluctuations, which backfired as gold prices surged, leading to substantial losses [9][10] - The illegal nature of these transactions has been highlighted, with courts likely to deem them invalid, resulting in suppliers only compensating investors for 50% to 70% of their losses [14][15] Group 3 - The recent interest rate cut by the Federal Reserve is expected to lead to increased investment flows into various markets, including real estate, which may benefit from a more relaxed monetary environment in China [16][17] - Historical trends suggest that U.S. interest rate cuts have previously correlated with surges in China's real estate market, indicating potential opportunities for investment in major cities [18][19]

Group 1 - The event focused on preventing illegal securities activities and the practical application of apple futures in enterprise risk management [1][2] - Professor He Shaoqi emphasized that illegal futures trading is essentially fraudulent, harming inexperienced investors and disrupting financial order [1] - A comprehensive legal framework has been established in China to combat illegal futures activities, involving a collaborative mechanism among four departments for accountability [1] Group 2 - Manager Wang Zhixin discussed key delivery elements of apple futures contracts, including grade standards, location settings, process arrangements, and default handling [2] - Enterprises can effectively manage market risks through hedging, diversified operations, and financial management, with a focus on the "insurance + futures" innovative model [2] - The event had a total of 550 page views and 291 unique viewers, indicating a successful outreach in investor education [2]