Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：5  发布时间：2026-05-22

Afterwards, an account check was conducted on Zheng's association, and after recovering and selling all funds and assets, the actual loss of the association was 497000 yuan. On November 23, 1989, the Wenzhou Intermediate People's Court sentenced the defendant Zheng Lefen to death and deprived him of political rights for life on charges of speculation and profiteering. The defendant Cai Shengnan was sentenced to life imprisonment and deprived of political rights for life.

The verdict on the Zheng case caused controversy in the legal community at that time. Some lawyers believe that the lifting of the association itself is a scam, and Zheng's subjective purpose is to illegally occupy members' money, which should be classified as fraud and punished accordingly. Zheng's crime should not be punished with death.

The court, on the other hand, believes that the defendant's main offense is the violation of the national financial management system, and should be convicted of speculation and profiteering. Depending on the circumstances, the defendant may face extreme punishment. The evidence provided by the court shows that Zheng Lefen did not engage in any fraudulent behavior. She entered into contracts with members, signed and stamped them, and both parties were aware of and agreed with the operating methods of the association. Zheng handles the collection, counting, accounting, and payment of members according to the agreed events and amounts. After the collapse of the association, all parties involved believed that their transaction with Zheng Lefen was voluntary and had no motive to cheat money.