On May 28, the Wuhan Intermediate People's Court of Hubei Province handed down a public verdict in the case of 18 defendants, including Wuhan Jinhuang Jewelry Co., Ltd., Wuhan Jinhuang Industrial Group Co., Ltd., Hefei Boyin Investment Consulting Co., Ltd., and Jia Zhihong, in the case of contract fraud, loan fraud, illegal issuance of loans, bribery of non-state workers, bribery of non-state workers, embezzlement of positions, and counterfeiting registered trademarks in accordance with the law. The defendant, Jia Zhihong, the former legal representative of Wuhan Jinhuang Industrial Group Co., Ltd., was sentenced to life imprisonment for several crimes, including contract fraud, taking bribes from non-state workers, and bribing non-state workers. He was also sentenced to life imprisonment, confiscation of all personal property, and deprivation of political rights for life. The other defendants were each sentenced to fixed-term prison sentences ranging from 3 years 2 months to 12 years and corresponding property sentences. The defendant units, Wuhan Jinhuang Jewelry Co., Ltd., Wuhan Jinhuang Industrial Group Co., Ltd., and Hefei Boyin Investment Consulting Co., Ltd. were fined accordingly. According to an indictment obtained earlier, as of the incident, Wuhan Jinhuang had counterfeited a total of 105.77 tons of gold. Through programs such as fake gold pledge guarantees, they have successively defrauded 15 financial institutions or units of a total of 25.345 billion yuan in finance. (Surge News)