Off the wire
• SPD Bank opens branch in Lhasa  • Kenya mulls more cancer centers to ease congestion at referral hospital  • U.S. stocks open lower amid oil prices slide, rate hike concern  • 1st Ld-Writethru: China, Russia start joint navy drill in South China Sea  • Controversial U.S. pastor barred from entering S. Africa  • Champion Kiplagat seeks fast victory in tough Chicago marathon  • Family of 7 killed in bomb blast while fleeing IS-held town in Iraq  • UNHCR presses EU members to apply asylum relocation scheme  • Roundup: British House of Lords politicians say parliament should have say in Brexit process  • 2nd Ld: 45 national lawmakers disqualified for electoral fraud  
You are here: 　 Home

Shanghai police probe two financing firms for illegal fundraising

Xinhua, September 13, 2016 Adjust font size:

Shanghai police said on Tuesday that two financing firms, Jinlu Financial Advisors and Dangtiancaifu, are under investigation for illegally siphoning off public savings.

Police of Changning District in Shanghai said the two firms promised 10 percent annual returns and were suspected of illegally amassing fortunes from the public.

Owners of the firms have been placed under "coercive measures," which include summons by force, bail, residential surveillance, detention and arrest.

Police are tracking the assets of the companies. Endi