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What was the "Foundation" incident that happened around the 1990s?

"Foundation" is also called "advocacy association" in some places. It is unclear when it originated. Its original definition is;

It later developed into private financial financing that calculated a certain amount of interest. The representative example is the private foundation in Leqing County, Zhejiang Province that occurred in 1982. According to records at the time, on-site deposit funds were collected using a ruler to measure the height.

To calculate the total amount of funds. [At that time, the largest cotton value was 10 yuan RMB. Later it evolved into a huge private financing crime.