Lantouzi.com’s Zhang Lei Put Under Border Control, Not Zhang Lei of Hillhouse Capital

Media reports on August 12 stated that Zhang Lei, CEO of lantouzi.com, faces punishment by border control authorities, not Zhang Lei of Hillhouse Capital. Business data firm Tianyancha shows that the founder of lantouzi.com has had his spending suspended.

On August 9, Hillhouse Capital denied reports that its founder Zhang Lei had been punished by border control authorities. The company reported the case to the police and has reserved the right to legally sue.

SEE ALSO: Hillhouse Capital Denies that Founder Zhang Lei Faces Border Control Penalty

The website lantouzi.com is a subsidiary of Beijing Dajiawan Technology Co., Ltd. The company was established in 2014 and has expended its business into investment consulting and business trade consulting. Its A-round of financing received 21 million US dollars from Ceyuan Ventures and Source Code Capital. Its products include “Lazy Direct Investment”, “Smart Selection Service”, “Xiangle Selection” and “Transfer Service”.

As of August 31, 2020, the balance of loans owed by lantouzi.com reached 3.4 billion yuan, with 3.2 billion yuan of overdue debt, and 4,569 of overdue transactions.

The Anti-fraud Center of Beijing Public Security Bureau recently issued an early warning notice, indicating there is only one QQ group chat for the fund refund and payment of lantouzi.com. And many lawbreakers seduce users to download gambling Apps in WeChat group by claiming to refund their money. In this way, they cheat investors of their money. The public needs to be alert to potential scams.

Lantouzi.com said that it has been urged by the China Banking and Insurance Regulatory Commission to complete the fund refund this year to protect the rights and interests of lenders.