Zhejiang smashes a gang that illegally buys and sells U.S. dollars to defraud export tax rebates



Buying U.S. dollars from "retail investors" and WeChat groups, selling them to middlemen to earn the difference, and selling them to foreign trade companies again at a higher price to defraud export tax rebates. The amount involved amounts to hundreds of millions of yuan. The case of operating and fraudulently obtaining export tax rebates made this black industrial chain finally surfaced. On May 22, the criminal suspects Yan XX and Zhu XX were arrested by Dongyang City People’s Procuratorate on suspicion of illegal business operations.

Upstream: Foreigners are the "scalper" who buys US dollars

Yan Moumou, a native of Gansu, is 23 years old this year. In April 2017, he went to work in Yiwu. He heard that the income from reselling U.S. dollars was considerable, so he became a scalper of U.S. dollars. Later, he printed a business card with "foreign exchange trading" and his own contact information, distributed accumulated customers around, and stayed at the gate of the Bank of China in Yiwu City for a long time to purchase U.S. dollar cash from foreigners.

In addition, Yan Moumou also joined the WeChat group that buys and sells foreign exchange, from which he purchases cash and then resells it to others. According to his confession, when reselling, it is usually sold to the next seller at a price increase based on the foreign exchange rate to make a difference. Until he was arrested in April 2020, Yan Moumou's illegal business amounted to more than 100 million yuan.

Midstream: "Daigou" spawned by the foreign exchange and US dollar market

Zhu Moumou is a native of Hangzhou, Zhejiang Province. He is 36 years old this year. He is one of Yan Moumou's "next family", and he is in the position of a middleman "buying agent" in the entire industry chain of illegally buying and selling US dollars.

In 2017, Zhu XX met the "scalper" Yan XX in Yiwu, and then began to look for him to buy U.S. dollars.. A large part of the U.S. dollars that Zhu X bought from Yan X has been sold to a handicrafts foreign trade enterprise in Shangrao, Jiangxi. The owner is Zhu X's fellow Zheng. "I know that Yan Moumou has dollars to sell, Zheng Moumou needs US dollars, let me introduce it to make a little difference." Zhu Moumou confessed.

Whenever Zheng had a need, he would remit the renminbi bought in US dollars to a few bank accounts that Zhu XX specially used as a "buy agent", and Zhu XX would remit RMB to Yan XX, and let him pass through overseas companies such as Hong Kong. Account transfer US dollars to Zheng's domestic company account. Zhu Momo usually sells US dollars to Zheng with an increase of 2 points, that is, he can earn 200 yuan for every 10,000 US dollars bought and sold.

In fact, before I met Yan Moumou, Zhu Moumou had illegally bought and sold foreign exchange. In 2010, Zhu registered a logistics company in Hong Kong and opened a bank account. He once sold the US dollar payment and freight received by the logistics company to Zheng's foreign trade company. As of the incident, only for a certain person in Zheng, Zhu's illegal business amount reached 180 million yuan.

Downstream: The "worms" of falsely reporting export tax rebates

Zheng from Jiangxi, 48 years old this year, was arrested by Dongyang People’s Procuratorate on suspicion of fraudulently obtaining export tax rebates on April 30. In 2011, Zheng registered and established Qianfu Crafts Co., Ltd. in Shangrao City, whose main business is to export craft fans to South Korea.

Zheng confessed that in order to rebate more tax, "I will falsely report the export amount. For example, if the company actually exports 1 yuan of goods, I will quote 1.5 yuan to get more tax refund." The Korean customer remitted to Zheng’s company is the actual payment. The part of falsely reporting exports needs to be realized by buying U.S. dollars. "I wish XX sold me USD at a higher exchange rate than the foreign exchange rate. If 1 U.S. dollar is exchanged for 7 yuan, he will sell it to me at an exchange rate of 7.08-7.14 for 1 U.S. dollar."

Since the company has the right to import and export, and the export declaration and other businesses are all operated by Zheng himself, the amount of false declaration is also determined by Zheng. The part of falsely reported export needs to be falsified by issuing invoices for the purchase of agricultural products in order to rebate the tax. So Zheng used the bank accounts of five or six relatives to transfer the accounts, fictionalized the fact that the payment for materials was paid, and issued invoices in full every month or found local bamboo Product manufacturers falsely issue agricultural product invoices for tax deduction.

From 2015 to the incident, Zheng defrauded a total of more than 20 million yuan in export tax rebates, which has reached the "extraordinarily huge amount" standard. "I'm too greedy, I shouldn't do this." Zheng may face a penalty of more than ten years in prison.