Caixin
Sep 10, 2018 06:13 PM
DAILY CHART

Police Freeze Shares in Brokerage Tied to Embattled Conglomerate Fuxing Group

The office of Donghai Securities Co. Ltd. is seen in Shanghai on May 7. Photo: VCG
The office of Donghai Securities Co. Ltd. is seen in Shanghai on May 7. Photo: VCG

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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