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China Police Crackdown on $98 Million Film Industry Investment Fraud Involving 4 Film & Television Media Companies with Film Stars Including Aaron Kwok, Shu Qi & Miriam Yeung, Used Social Media Platforms to Attract Investors to Buy Film Project Shareholder Rights with Profit Distributions, Only Small Percentage of Funds Raised Paid to Film Producers for Shares, More than 2,100 Investors Invested $98 Million

Jan 26, 2024

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China Police Crackdown on $98 Million Film Industry Investment Fraud Involving 4 Film & Television Media Companies with Film Stars Including Aaron Kwok, Shu Qi & Miriam Yeung, Used Social Media Platforms to Attract Investors to Buy Film Project Shareholder Rights with Profit Distributions, Only Small Percentage of Funds Raised Paid to Film Producers for Shares, More than 2,100 Investors Invested $98 Million

26th January 2024 | Hong Kong

China police (Procuracy of Lanzhou City, Gansu Province) has crackdown on a $98 million film industry investment fraud involving 4 film & television media companies with film stars including Aaron Kwok, Shu Qi & Miriam Yeung. The investment fraud involved used social media platforms (Eg. WeChat, QQ) to attract investors to buy film project shareholder rights with profit distributions, with only a small percentage of funds raised were paid to film producers for shares. More than 2,100 investors had invested over $98 million (CNY 700 million) into the film industry investment fraud. The 4 companies involved in the case are Beijing Bammie Culture Media Co, Zhongrui Taifeng (Beijing) Culture Communication Co, Beijing China Film Xinyi International Film & Television Culture Media Co, and Beijing Maifenshi Culture Media Co. The case involves 12 movies – The Van Gogh Project, The Monkey King: The Sky-Eating Monkey, Mailu Man, Rescue from the Raging Sea, The Poet, Desperate Rescue, Oppa, You Are So Handsome, The Ruffian Lover, Money is Here Awkward Journey, Love You with All My Heart, Shanghai Shanghai & Luban Underground Palace.

“ China Police Crackdown on $98 Million Film Industry Investment Fraud Involving 4 Film & Television Media Companies with Film Stars Including Aaron Kwok, Shu Qi & Miriam Yeung, Used Social Media Platforms to Attract Investors to Buy Film Project Shareholder Rights with Profit Distributions, Only Small Percentage of Funds Raised Paid to Film Producers for Shares, More than 2,100 Investors Invested $98 Million “

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China Police Crackdown on $98 Million Film Industry Investment Fraud Involving 4 Film & Television Media Companies with Film Stars Including Aaron Kwok, Shu Qi & Miriam Yeung

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