Illegal fundraising soars
Source: Shanghai Daily |
May 6, 2015, Wednesday
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Print Edition
Print Edition
THE number of cases of illegal fundraising last year tripled from 2013 to 56, prosecutors said. They involved 2.7 billion yuan (US$435 million) worth of funds. In 27 of the cases, the victims were sold spurious financial products with the lure of high returns. Bank clerks were involved in some of the scams, prosecutors said.
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