Mar 31, 2021 08:03 PM (GMT+8) · EqualOcean
According to the Shanghai First Intermediate People's court, at 9:30 on March 31, the Shanghai First Intermediate People's court held a public hearing on the first instance of the case of fund-raising fraud involving the defendant Shanghai Zhengda cultural and Creative Development Co., Ltd. The public prosecution charged that "Zhengda series" enterprises had illegally raised more than 59.666 billion yuan from more than 350.01 million people, and the funds were mainly used for paying borrowers' funds, external loans, company operations, etc., resulting in more than 26500 victims' principal not being paid, totaling more than 7.521 billion yuan. After deliberation, the collegial panel will pronounce a judgment on the case according to law.

This text is a result of machine translation.