The famous Chinese actor, Hu Jun, is getting in trouble as a wealth management product he endorsed is suspected of fraud.
Hu Jun reportedly endorsed Wukong Financial Management after 9F Group officially launched the product in September 2014.
According to Luju Bar, Wukong attracted many customers thanks to its high rate of return. Its transaction volume on the first day of trading exceeded $148,000, and the number of users exceeded 10,000 in the first three days.
However, it was not to last. In 2020, some investors revealed that the two products of 9F Group had overdue payments.
According to SOH, Wukong was suspected of fraud involving about $5.8 billion from an estimated 340,000 victims.
Victims said the product’s principal and interest are overdue and have not been paid.
It has been two years since the incident, and the users are tired of waiting for a solution, so they are targeting the spokesperson Hu Jun.
Many netizens have gone to Hu Jun’s social account to complain. One wrote: “Seeking justice.”
On the Chinese social media platform Weibo, a netizen said that the financial product had harmed many families, and Hu Jun has partially swept their hard-earned money away.
Some victims even went to the Beijing People’s Art Theater, demanding it disqualifies the actor from working and punish him.
Hu Jun is a nominee for the Hundred Flowers Award for the best supporting actor for the Chinese Communist Party’s propaganda film “Changjin Lake.” However, because Wukong Financial Management was involved in fraud, his nomination could be canceled.
On August 1, Hu Jun’s Studio issued a statement saying that Hu Jun received an endorsement invitation in 2018 when the financial management product was verified.
According to the statement, Hu Jun himself registered as a user of the Wukong app. However, after experiencing the product, he signed the endorsement agreement and only fulfilled the relevant obligations of the spokesperson.
Hu Jun Studio said that the endorsement contract ended in June 2020. It also apologized for not responding sooner.