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new progress has been made in the suspected illegal financial case of shanghai reagan fund management co., ltd. (hereinafter referred to as "regan fund").

securities times reporters learned from multiple sources that on september 24, shanghai pudong police took criminal coercive measures against many executives of reagan fund, including the actual controller.

the office was sealed and executives were placed under criminal control

the well-known private equity fund regan fund was established in 2014. its parent company is regan industrial group co., ltd. controlled by brothers li hailong and li jinlong. in 2023, the redemption crisis of the reagan fund broke out in full, and its products successively announced that they would enter early liquidation procedures. before the thunder broke out, reagan fund announced that its management scale exceeded 10 billion yuan.

recently, news that “the actual controller of reagan fund was arrested” has been circulating among investor groups. according to information provided by investors to a securities times reporter through a police platform query, the economic investigation detachment of the pudong branch of the shanghai public security bureau took criminal coercive measures against several executives of reagan fund on september 24. at the same time, the information also shows that the criminal case against the reagan fund was filed on february 22. the reporter contacted li jinlong, the legal representative of the reagan fund, and was informed that the phone was turned off.

on september 29, the reporter once again went to the 38th floor of shanghai huaneng united building, which was once the office of the reagan fund. previously, a reporter from securities times visited here for interviews when investigating reagan’s alleged illegal finance. it is understood that after the reagan fund exploded in 2023, the company changed the sign of the office to "five states ecological technology", and the executives of the reagan fund still work here.

the reporter saw at the scene that the company called "wuzhou ecological technology" has been sealed up, and the contact number left by the shanghai pudong economic investigation was posted on the glass door. the security guard on the floor told reporters that many investors have recently come to inquire about the situation of the reagan fund, and it is recommended to call the pudong economic investigation bureau to learn about the situation.

subsequently, the reporter called the pudong economic investigation bureau as an investor, and the police responded that the reagan fund was formally filed for suspected fund-raising fraud in february this year. criminal coercive measures have been taken against relevant personnel, and the specific amount involved is still under further audit.

manipulate the stock prices of 5 stocks to build a secret channel for transferring profits

on july 19, 2023, the securities times published "potential 丨 starting from the bottom of the "10 billion" private equity reagan stock price control technique!" ”, exclusively exposed the illegal behavior of reagan fund, which was suspected of manipulating the stock prices of multiple domestic and foreign stocks, and using investors’ investment funds to help itself cash out huge amounts of money, thereby achieving the purpose of transferring benefits.

according to an investigation by a reporter from the securities times, reagan fund and its hidden related parties first took control of a number of public companies, manipulated the stock prices to high levels through reverse methods, and then controlled the private equity products they managed to "take over" the stocks at high levels through secret channels, while themselves take advantage of the trend to realize a huge cash out. the manipulated acquisition funds were close to 1 billion yuan, involving at least 4 neeq companies and 1 hong kong stock company. these manipulated public companies have either been delisted or their stock prices have plummeted, and the private equity products that use these stocks as underlying assets have no expectation of product redemption.

the manuscript received a lot of attention after it was released, and also caused a chain reaction in the secondary market. at that time, the stock price of xinken intelligent, a hong kong-listed company controlled by the reagan group and preparing for a backdoor transaction, plummeted by more than 80% in a single day. the company's stock price recently closed at 0.285 yuan per share.

increase efforts to regulate the development of the private equity industry

in recent years, risk events have frequently occurred in the private equity industry. in may of this year, ruifengda, a well-known private equity firm, suddenly exploded. it was suspected of multiple violations and was investigated by the china securities regulatory commission. in november 2023, the "hangzhou 3 billion quantitative private equity runaway incident" affected a number of private equity, trust and listed companies. during the investigation by the china securities regulatory commission, it was found that relevant personnel were suspected of controlling hangzhou yuyao, shenzhen huisheng and other institutions, with multiple layers of nested investments include false propaganda, reporting of false information, illegal disclosures, etc., and may also be suspected of illegal and criminal acts.

the party central committee and the state council attach great importance to the functional role of the private equity fund industry, and have repeatedly put forward relevant requirements to increase the cost of illegal activities in the capital market, and mentioned the effective prevention and resolution of risks in key areas such as private equity funds. in recent years, regulatory authorities have continuously strengthened supervision to promote the high-quality development of the private equity industry. in july this year, the china securities regulatory commission proposed to focus on preventing and defusing risks in key areas such as private equity funds, trading venues, bond defaults, and industry institutions, and vigorously enhance the effect of law enforcement and supervision. recently, the china fund management association has issued multiple disciplinary decisions in succession, pointing out the irregularities of many private equity fund managers and regulating the healthy development of the industry.