Illicit financial cases soar
By Zhao Wen |
May 9, 2012, Wednesday
|
Print Edition
Print Edition
SHANGHAI reported a surge in illicit fund-raising and financial service foul play cases last year amid the city's increasingly active financial investment business and an intensified police clampdown.
The number of illicit fund-raising schemes rose by one-third while illegal financial business volume increased by more than 60 percent.
"Illicit fund-raising cases usually involved many victims with huge losses," said Gu Ying, an official with the Huangpu District Prosecutor's Office.
"I felt very sympathetic for these investors but they should also be blamed for eyeing only huge profits and turning a blind eye to investment risks."
Most suspects used to work in the financial field, according to the prosecutors.
The number of illicit fund-raising schemes rose by one-third while illegal financial business volume increased by more than 60 percent.
"Illicit fund-raising cases usually involved many victims with huge losses," said Gu Ying, an official with the Huangpu District Prosecutor's Office.
"I felt very sympathetic for these investors but they should also be blamed for eyeing only huge profits and turning a blind eye to investment risks."
Most suspects used to work in the financial field, according to the prosecutors.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
