Shenzhen Police Raid Four Companies in Futures-Fraud Probe
(Shenzhen) — Shenzhen police raided at least four companies suspected of engaging in illegal trading on local commodities exchanges across the country, as the central government intensified efforts to clean up hundreds of poorly regulated local over-the-counter (OTC) markets.
Police took several employees into custody on Friday, and the companies are being investigated for fraud and for trading precious metals and crude oil futures, sources close to the local police and the financial markets regulation bureau told Caixin.
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