The greed of human nature often leads to reckless disregard for consequences. The next day Jiannan Lyu called me and told me that Feng Shen had lost seven million in his casino the night before!
I was also surprised when I heard this number. Feng’s current annual salary was $800, 000 plus, that was to say, he lost his annual salary for several years overnight.
He only brought $300, 000 cash when Feng come to the casino. That is to say, 7 million were loan sharks borrowed from Jiannan.
The ordinary microfinance companies also have loan sharks, but their interest was calculated on a monthly basis, but Jiannan’s usury were calculated on a daily basis, with 10% interest per day. And the interest would be deducted the first time. For example, you ask Jiannan to borrow one million, he will deduct 100, 000, and only give you 900, 000, and then every day hereafter, you have to pay him 100, 000 interest.
This sounded scary, and it seemed like no one would be so stupid to borrow such high interest money. But there are two kind of person, one kind is someone who urgently needs money to save lives, and the other kind the gambler.
After gamblers was on a losing streak, they can bet on anything. In their logic, the interest of 100, 000 per day is not high. Because he borrowed 1 million, and the chips he got were 900, 000. If he can win on the next round, he would win back all the money he lost , and then immediately returned the 900, 000 dollars, so it is OK.
Of course, there is a premise here that he can win back. If he cannot win back, then he would have to pay $100, 000 in interest every day, and if he has not repaid the principal after ten days, the amount he owes will double to 2 million. Next , it began to enter the profit-rolling mode, namely the interest that has not been paid also began to be counted as principal to charge interest.
In most cases, if the loan is not repaid after a month, the debt will start to be collected. Then various methods began to be used, and threat and intimidation are so ordinary. the debt collectors even come to your home, eating and sleeping with you, and the family will collapse in less than a week. Then the debtor will sell everything that can be sold to pay the debt.
Jiannan told me that today he was not going to ask Feng for money or disturb him, but let him rest and recover instead. After he loses millions more at tonight, he can officially start debt collection.
I said that if Feng would not come tonight, what should he do?
Jiannan said it was impossible. If a gambler wins, he might take a day off and waste the money he won. But if he loses, he would definitely find a way to collect money and find ways to get the principal back. If the gambler can be so calm, the casino has already closed.
“I couldn’t wait for tonight. I had something to know before twelve o’clock today. You have to force Feng to let him beg me. You say you are my friend, and let him call me for help.”
“OK, I will do it now.”
Then when it was noon, Feng’s call came. I took it and asked him what’s up.
“President Yao, do you know a casino owner named Jiannan Lyu?” Feng’s voice sounded haggard.
“Jiannan Lyu? I know him, but just a casual friend, what’s wrong?”
“I owe him a little money and say I will repay at the end of the month, but today he suddenly sent someone to keep watch on me outside my house and even went to my parents’ house. Would you please tell him let him give me a few more days to raise… Ouch…”
Before Feng finished his words, I heard him screaming and should have been beaten.
Then I heard a scolding on the phone, “You f**king talk for a long time. Pay me back!”
Then Feng’s screams came again.
“you shouldn’t beg the following people and that it’s useless. You go directly to the boss with them, and I’ll help you find a solution.
After about forty minutes, I drove to a bathing center. I saw Jiannan still wearing pajamas, and Feng was standing beside him in distress.
As soon as Feng saw me, it seemed to have caught a life-saving straw. “There you are, President Yao. Please help me plead with this boss to give me a few more days. I will definitely pay back the money.”
Jiannan yawned and came over to me, pretending to politely extend his hand, “It’s really President Yao, Long time no see.”
I think the performance was a bit awkward, but I still reached out and shook him.
“President Yao, is this really your friend?” Jiannan pointed to Feng and asked.
“Yes, he is a senior executive of my company. He caused offence to you?” I pretended to ask.
“Let him tell you.” Jiannan said.
I looked at Feng and his face became ugly. He stuttered that he was in a bad mood recently, so wanted to gamble for release. He didn’t expect that He could lost too much. He borrowed some money to continue to gamble, but lost all of it in the end.
“President Yao, our rules is that one hand offset 3 million. He owes more than 7 million. If he is not able to repay his debt, he can use two hands to repay. But since he is your friend, I’ll make another 50% discount and just cut one.” Jiannan said.
The idea freaked him out. He hastened to beg, saying that he can’t lose his hand, otherwise he would be a good-for-nothing.
I looked at Feng’s distraught look, thinking that this is a judgement on you. He had betrayed Yan Chen at Lanhai. I thought he would devote to work and never make the mistakes he had made before, but I didn’t expect that he was actively on a path of no return.
Sure enough people with flawed characters are not only prone to make mistakes but also hurt others. When he was working with Yan, I had thought that one day he would betray me, but I didn’t expect him to betray me so early.
I looked at Jiannan, “Mr. Lu, give me and President Shen a few minutes. I will discuss with him how to deal with this matter.
Jiannan found a cigarette, but did not light it. He looked at Feng, “OK, then you discuss it, and it is best to discuss an idea that I also satisfied.”
After speaking, Jiannan went out, and only Feng and I were left in the room.
“I’m sorry President Yao. This matter troubles you, but their means are too ruthless. You must help me beg them, and I will repay the money in a while. I have money, but the rest money was used in investment and it cannot be recovering for the time being. It is not yet available.”
He also reminded me that when he said this, when he sold Lanhai Technology, he was worth hundreds of millions of dollars. Why he cannot repay millions?
“You have been involved in gambling for a long time?” I asked him coldly.
“I haven’t gambled for a long time. Later I invested my money, but lost some of it and couldn’t get some of it back. So I was upset and I gambled again. I always gambled a small. I didn’t expect that I couldn’t control myself this time. So I got stuck… President Yao, you must help me.” Feng said.