According to the “Rule of Law Daily, Rule of Law Weekend” report, the Chang Ting-TIN’S SECRET case has been dismissed by the Yuhua District People’s Court in Shijiazhuang City. At the same time, the court has lifted the seal on a total of 96 properties owned by the respondent and unfrozen multiple bank deposits under the respondent’s name, with all bank accounts being unfrozen.
This case involves Chang Ting (real name Zhang Shuqin) and Lin Ruiyang (real name Lin Jirong) and their Shanghai TIN’S SECRET Limited Trading Company, which was involved in an internet pyramid scheme. On June 5, 2021, the Yuhua District Market Supervision Bureau in Shijiazhuang, Hebei Province, initiated an investigation into the company for alleged involvement in a pyramid scheme.
The respondents in this case include Shanghai Zhenhong Biotechnology Co., Ltd., Shanghai Jubo Yiwang Industrial Co., Ltd., Shanghai Guangpeng Investment Management Consulting Co., Ltd., and other entities, with Lin Ruiyang, Chang Ting, and Kuang Guiyuan as legal representatives.
According to court documents, on July 20, 2021, the Yuhua District People’s Court in Shijiazhuang ruled to seal 96 properties owned by Shanghai Zhenhong Biotechnology Co., Ltd. and Shanghai Jubo Yiwang Industrial Co., Ltd., as requested by the applicants.
After reviewing the case, the Yuhua District People’s Court in Shijiazhuang determined that according to Article 3 of the “Notice of the State Administration for Industry and Commerce on Further Improving the Investigation and Prosecution of Internet Pyramid Schemes” [SAIC Competition Letter (2016) No. 115], local industry and commerce and market supervision departments handling internet pyramid scheme cases must report to municipal-level industry and commerce and market supervision departments before or simultaneously with filing the case. The reported case has now been dismissed, and the conditions for the court to continue implementing protective measures on the assets involved in the alleged internet pyramid scheme no longer exist.
In accordance with Article 166(4) of the “Interpretation of the Supreme People’s Court on the Application of the Civil Procedure Law of the People’s Republic of China,” the following ruling is made: The seal on the 96 properties located at No. 28 Jiangyao Road, Pudong New Area, Shanghai, owned by Shanghai Zhenhong Biotechnology Co., Ltd. and Shanghai Jubo Yiwang Industrial Co., Ltd. is lifted.
Furthermore, as ruled by the Yuhua District People’s Court in Shijiazhuang, the freeze on multiple bank deposits under the respondent’s name has been lifted, and all bank accounts have been unfrozen.
This ruling will take effect immediately from July 26.
Qi Huimin, a lawyer at Beijing Dacheng (Shijiazhuang) Law Firm, said, “The Yuhua District People’s Court in Shijiazhuang has fully exercised its judicial functions in handling this case, supporting and guiding administrative authorities to act in accordance with the law, which meets the requirements of a rule-of-law business environment.”
Li Min, Senior Partner at Shanghai Hansheng Law Firm, said, “The Yuhua District People’s Court in Shijiazhuang’s decision to dismiss the Chang Ting-TIN’S SECRET case demonstrates a positive rule-of-law business environment, reflecting the principles of legal equality, legal protection, judicial independence, and lawful administration. It helps promote the normal operation and development of businesses and provides a predictable, stable, and fair legal environment for enterprises.”