China Financial Scandal: Chinese authorities detain investors for speaking to foreign media on Shandong financial scandal

 

Beijing [China] May 1 (ANI): Dozens of regular investors from China, who lost their investments following the downfall of a government-supported financial services group in Shandong province, have been arrested by authorities for raising awareness about the situation through foreign media and for being “exploited by overseas anti-China elements,” as reported by Radio Free Asia (RFA).

Last month, several investors among the almost 100,000 affected by an alleged 20 billion yuan (approximately USD 2.74 billion) financial fraud connected to the Jianghaihui Group in Shandong province spoke with international media outlets, including RFA, to help bring global attention to the scandal and encourage action, according to RFA.

Chinese officials have detained numerous investors, claiming they are “being exploited by overseas anti-China elements,” after they spoke to reporters and shared articles about the scandal in social media groups or privately, as indicated by the RFA report.

The RFA report highlighted that in recent days, over a dozen depositors from various cities in Shandong province, such as Weifang and Zaozhuang, have been subjected to administrative detention by local law enforcement.

In late March, RFA reported that Jianghaihui’s chairman had fled to the United States with his wife after the company suddenly ceased operations, leaving behind countless distressed investors who had invested their savings in the company’s financial schemes.

The RFA report noted that officials have repeatedly summoned investors for questioning, and they have faced detention and persistent surveillance for sharing information with international journalists.

Law enforcement detained more than a dozen individuals based on news shared on major overseas websites. This included people from other provinces who communicated the reports to one another. Officials from the Public Security Bureau presented me with the reports, labelled them as part of anti-China efforts, reported RFA.

Most of those apprehended are women; some were released two weeks ago, while several others remain in custody, stated the RFA report. (ANI)

https://theprint.in/world/chinese-authorities-detain-investors-for-speaking-to-foreign-media-on-shandong-financial-scandal/2611373/