Core Points - "Qingyun Rental," once a leading mobile phone rental platform, is facing allegations of a financial collapse, with numerous investors unable to withdraw funds and employees discovering the company has shut down overnight [1][2][4] Group 1: Company Operations - The company claimed to have over 110,000 mobile phones rented out, but investigations revealed that most of these phones were concentrated in two villages in Henan province, raising suspicions about the authenticity of the reported performance [1][10] - Employees were required to invest in mobile phones monthly, with a performance pressure to complete a quota of 30 phones, leading many to take loans or mortgage their properties to meet these demands [2][5] - The company promoted itself as having a state-owned background and partnerships with various reputable firms, claiming a maximum annual return of 16.8% on investments [2][4] Group 2: Financial Mismanagement - Reports indicate that the company had previously boasted about its financial stability, but many employees and investors began to experience withdrawal issues starting in mid-September [4][5] - The company had a network of 300 stores across multiple cities, but recent investigations revealed that significant capital reductions and withdrawals had occurred from its major investors [4][5] - Employees discovered that a large portion of the supposedly rented phones were actually funded by their own investments, suggesting a potential Ponzi scheme where new investments were used to pay returns to earlier investors [10][11] Group 3: Employee Experiences - Employees reported being misled by the company's promotional materials, which emphasized a booming market and high returns, leading them to invest heavily [5][6] - Many employees, under pressure to meet performance targets, ended up investing their own money, with some losing over 1.3 million yuan (approximately 130,000 USD) [5][6] - Investigations by employees revealed that the majority of the phones were being distributed to individuals with low credit ratings, indicating a possible fraudulent scheme [10][11]