ecns [expanded by feedex.net]: 212 held in drive against illegal fundraising

ecns [expanded by feedex.net]

ecns

212 held in drive against illegal fundraising
http://www.ecns.cn/2015/05-12/165131.shtml
May 12th 2015, 07:41




Police across Guangdong province detained 212 suspects in a special campaign against illegal fundraising between April 10 and 20, according to a senior police officer.


"Police cracked down on 33 illegal fundraising cases involving more than 3.3 billion yuan ($532.26 million) during the special campaign launched simultaneously in major Pearl River delta cities," said Huang Shouying, director of economic crime investigation bureau with Guangdong provincial department of public security, on Tuesday.


"The special campaign code named Lijian No. 1 has dealt a heavy blow to the illegal fundraising events that used to be active in Guangdong province, which borders Hong Kong and Macao special administrative regions," Huang told a press conference in this Guangdong provincial capital.


During a joint operation launched in the three cities of Guangzhou, Shenzhen and Dongguan on April 16, police detained a total of 63 suspects from Guangdong Xipai Company after busting eight dens of the company.


Established in December of 2013, Xipai company was investigated to have illegally raised more than 100 million yuan via promising high interest rate.


"Xipai Company's more than 20 million victims came from five provinces and regions in the mainland," Huang said


And most of the victims were senior citizens, he added.


Meanwhile, police detained another 23 suspects when they busted 10 locations of another illegal fundraising in Shenzhen special economic zone on April 10. The company, which had more than 14,000 employees, was investigated for illegally raising more than 800 million yuan through high interest return.


Guangdong police have cracked down on 74 illegal fundraising cases in the first four months this year, up year-on-year 221.7 percent.


And in the entire 2014, police in the province detained 167 suspects after cracking on 60 illegal fundraising cases.




Surge in illegal fundraising cases and amounts in 2014




20 to be indicted in $860 mln financial scam




China heightens alert over fundraising fraud




Conglomerate being investigated for illegal fundraising





Baidu starts internal probe into 3 top managers


Expert urges higher taxes on cigarettes


China, Russia launch joint naval drills


Smartphone market falls for first time in six years


Crash sparks call for safety check of plane


Survey shows philosophy graduates have worst salaries


7.4-magnitude aftershock jolts Nepal


China publishes new version of epicenter distribution map


Artificial reefs built in NE China sea to restore fisheries


HK gov't to explain reform package by different means





You are receiving this email because you subscribed to this feed at https://blogtrottr.com

If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt