Police Freeze Shares in Brokerage Tied to Embattled Conglomerate Fuxing Group
Shanghai police are stepping up efforts to secure assets of companies accused of bilking investors out of billions of yuan as the number of cases of financial fraud grows.
The police’s move took place amid an investigation into the Shanghai-based Fuxing Group, the downfall of which has turned into a financial scandal that has become one of the biggest crises ever to hit China’s private equity industry.
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