Press "PandaGuides" above to follow us!
A recent case in a remote Chinese village has sparked intense debate after a college graduate returned home and led the entire village in systematically exploiting illegal online lending platforms. The incident, which some have described as a mix of financial rebellion and organized fraud, has left loan companies reeling and authorities struggling to respond.
The mastermind behind this operation is a young man named Jiang, who, after graduating from college, decided to share his financial "wisdom" with the elders in his village. Instead of seeking traditional employment, he introduced them to black-market loan apps - high-interest, often predatory lending platforms that operate in legal gray areas.
Jiang's philosophy was simple: "The rich should help the poor." However, his method was far from conventional. He encouraged the elderly villagers to take out loans from these platforms with no intention of repaying them. "These are illegal lenders charging sky-high interest rates. Why should we pay them back?" he argued.
One elderly villager, intrigued by Jiang’s idea, downloaded a loan app and was immediately granted 2,000 yuan, but was expected to repay 10,000 yuan within three days. Panicked, he turned to Jiang for advice. "Why worry?" Jiang reassured him. "It’s free money!"
As word spread, more villagers joined the scheme. One elderly man even remarked, "We’re old - if we take the money and enjoy life, what does it matter if our credit scores suffer? We can’t take good credit to the grave."
The strategy expanded rapidly. At one point, Jiang’s father questioned the sustainability of the plan. "What if some of these old folks mistakenly borrow from legitimate lenders and have to pay back?" Jiang had a solution for that, too. "Dad, go recruit some university students to help them. They can assist with the applications and share the profits."
Inevitably, the lending platforms began chasing repayments. However, they were unprepared for the resistance they encountered. The entire village stood united. When collection agents called, the elderly borrowers treated them as conversation partners, happily chatting for hours without any intention of discussing repayment.
Attempts to collect debts in person proved even more futile. Some collectors found themselves trapped in the village for days, unable to leave unless they paid local "fees" in the form of cigarettes, alcohol, or bribes to village elders. Others faced physical intimidation and had no choice but to retreat.
Faced with such coordinated defiance, many loan platforms simply gave up. Some smaller companies wrote off the debts entirely, while others - bleeding money from widespread defaults - went bankrupt.
The incident has ignited fierce debate online. Some netizens view the villagers as folk heroes, standing up to exploitative lenders. "This is black eating black," one commenter noted, referring to the idea of criminals preying on each other. Another remarked, "These villagers just outsmarted the system!"
However, others see it as a dangerous precedent. "This isn't justice - this is financial anarchy!" one user wrote. "If everyone did this, the entire financial system would collapse."
Legal experts warn that despite the questionable ethics of black-market lenders, borrowers who deliberately take out loans with no intention of repayment may still face consequences. "Fraud is fraud, regardless of who the victim is," one lawyer explained. "If authorities decide to act, the whole village could face charges."
● Man spends ¥13 million on girlfriend, gets dumped for foreigner
● 38-year-old woman’s marriage requirements stir debate online
● Chinese woman chooses African partner, left broke after cancer
● Chinese man shares photos with German girlfriend, gets bullied
● Foreign woman fined for dating on tourist visa in China
● Chinese man marries African girl 12 years his junior for ¥9,000
● My friend chose to end her life in Zurich on October 24, 2024
Long press or scan the QR CODE below to follow us!
