Therefore, Chen Zhifeng was chosen to stay in Shanghai Bund and publicly lead the scam, while Song Chunzhong led a group of people to Western Hunan to carry out the counterfeiting and planning. As for Luo Zongchang Ning Zikun's group, they stayed in Shanghai Bund and were responsible for promoting the entire scam.
This Heavenly Immortal Scheme is called "Mining Investment Promotion".
Chen Zhifeng arrived in Shanghai Bund as an overseas Chinese returning to develop his career, making friends with people from all walks of life. He frequently attended various parties and banquets, and was quick-witted, humorous, and adept at entertaining guests from all directions. He became acquainted with almost all the well-known figures in Shanghai, whether in politics, business, academia, or even prominent tycoons. Within three months, Chen Zhifeng had become a famous figure in Shanghai Bund.
As for Luo Zongchang and Ning Zikun's group, most of them either volunteered or asked for favors and were hired as servants in the homes of people Chen Zhifeng was on good terms with. Some women, relying on their looks and charm, simply became the concubines, mistresses, or mistresses of some officials. Scatteredly, Luo Zongchang and Ning Zikun arranged for more than twenty men and women to infiltrate the homes of their targets.
Song Chunzhong led his men to Western Hunan, where they set up permanent offices in several Western Hunan towns. They rented shops and hung up signs that read "XX Mining Company's Office in a Certain County." They also spread the word early on, contacting mine owners in various parts of Western Hunan and making it seem like they wanted to negotiate the purchase of mines for mining. The amount involved was huge. Not only did China person talk to the mine owners, but foreigners also followed, carrying various surveying equipment to inspect the mines.
Furthermore, one person was selected from each of the three groups, and the three individuals forged identities to work at a certain bank that was recruiting.
Song Chunzhong's professional demeanor in Western Hunan convinced the mine owners that he was genuine. News of big bosses partnering with foreigners to acquire mines at high prices for mining operations spread throughout the Western Hunan. Even before a single deal was finalized, the name of XX Mining Company had already become widely known. Rumors even circulated that once the company bought the mines, villagers would be able to work for the company, helping with mining, earning two silver dollars a day. This rumor further solidified the company's reputation in several counties of Western Hunan, making it a household name.
Everything was meticulously planned, and the prelude was complete. Chen Zhifeng of Shanghai Bund officially kicked things off, booking a luxurious hotel to host a banquet for three or four hundred of Shanghai Bund's elites. During the banquet, he raised his glass and delivered a passionate speech, lamenting that the motherland was in ruins after the war and lacked financial resources. Therefore, he planned to call on those who were dedicated to revitalizing China to jointly establish a mining company to exploit the numerous mines in Western Hunan, saving the country through industry and revitalizing China's industrial sector. He even stated that he had already contacted the Ministry of Commerce of the Government of the Republic of China, and that once the mining company had grown and established itself, he, Chen, was willing to hand over half of the company's shares to the state. The Ministry of Commerce had already replied, greatly supporting his patriotic and nationalistic endeavor.
Running a mine for the country requires a lot of money, including purchasing foreign machinery and recruiting workers, so the initial capital is set at one million silver dollars.
His entire fortune amounted to only 200,000 silver dollars, enough for just 20% of his investment. Therefore, he wanted to use this banquet to find like-minded people willing to invest in the Western Hunan mines with him, to jointly act as initiators, and to hope that everyone would strongly support the nation's industrial development and work together to strengthen the country.
At the banquet, Chen Zhifeng even brought out the articles of association, forms, rosters, and reply letters from the Ministry of Commerce that were needed for the early stages of mining. The shares and profits were all listed, and the prospects were quite attractive. In addition, Chen Zhifeng's speech was impassioned and passionate, as if the fate of China's industry rested on our shoulders and we could not refuse.
Therefore, many people present were deeply moved.
Moreover, the prospectus for the mining operation presented by Chen Zhifeng was extremely detailed. Many well-known businessmen present praised Chen Zhifeng, saying that he truly lived up to his reputation as a worldly-wise overseas Chinese businessman. The entire document was in both Chinese and English. Furthermore, the prospectus stipulated that the fundraising period was limited to six months. During the fundraising period, the funds would be deposited in a specific bank, and no one was allowed to misappropriate them. Upon maturity, the company's board of directors would be elected based on the amount of individual investment, and the board of directors would officially manage the funds.
The charter even included trivial plans such as the election of auditors and inspectors. All kinds of plans, rules, explanations, and items were detailed, thorough, prudent, clear, and fair.
Just looking at this thick charter convinced most of the people present that no one would put so much effort into creating it unless they genuinely wanted to get into mining.
So that night, everyone enthusiastically subscribed for 300,000. After the banquet, many interested people called their friends in several counties in western Western Hunan to inquire about the situation of the mines in Western Hunan. The reply they received confirmed that it was true. The mining company had already arranged for people to acquire the mines, and foreigners were going to the mines to survey them every day. It seemed that the mines would be opened for mining soon.
Some mature and steady people even went to Western Hunan to see for themselves, and sure enough, the mining company's work in several counties in Western Hunan was proceeding in an orderly manner.
During the six months of the IPO process, Chen Zhifeng diligently traveled to various overseas machinery companies every day, such as preparing to contact and order mining machinery.
Meanwhile, Ning Zikun's men began spreading the news among various households:
"I heard from a servant of a certain merchant family that his master secretly bought shares in Chen Zhifeng's mining company for 50,000 silver dollars in the name of his concubine."
"The day before yesterday, Director So-and-so had his butler buy shares in a mining company for 10,000 silver dollars."
Then there were the women who had been placed in positions of power, all of whom begged their husbands to spend money to buy shares, so that they could have someone to rely on when they grew old and lost their beauty.
Through various means, by the subscription deadline, this group of con artists had amassed a total of over 1.2 million silver dollars, equivalent to 5.7 billion yuan in Fabi tender at the time, and 12,000 taels of gold!
The expenses of these people over the past six months, including placing people in bank jobs, bribing officials, opening an office in Western Hunan, hiring foreign surveyors, and even Chen Zhifeng's ostentatious displays and networking, did not exceed 100,000 silver dollars. This means that they made a pure profit of 1.1 million silver dollars in just six months.
The day before the subscription period ended, Chen Zhifeng, Song Chunzhong, and Luo Zongchang gathered in Shanghai Bund, waiting for their three henchmen, whom they had planted in advance at a bank, to transfer the money from a certain bank to an account that had been arranged in advance at a foreign bank. After the three of them divided the money, they each took their men and left Shanghai Bund, saying that if fate allowed, they would meet again in the underworld.