Henan Village Banks Start Reimbursing Large Depositors

Four village banks in central China’s Henan province Monday started repaying big depositors who were swindled in a massive illegal fundraising scandal, but certain depositors who opened accounts in person still haven’t gotten their money back.

The new round of reimbursements involves deposits of more than 500,000 yuan ($73,744). Those with smaller accounts were repaid since the end of August. The Henan bureau of the China Banking and Insurance Regulatory Commission and the Henan local financial supervision bureau said at the time that payments to those with larger deposits would be processed later based on the recovery of assets.