Caixin
Jul 11, 2022 08:28 PM
CHINA

Police Arrest ‘Criminal Gang’ Members Linked to Henan Rural Bank Meltdown

Depositors in Henan province protested on Sunday as the Xuchang Rural Commercial Bank meltdown deepens. Photo: IC Photo
Depositors in Henan province protested on Sunday as the Xuchang Rural Commercial Bank meltdown deepens. Photo: IC Photo

Police in Central China’s Henan have arrested a second batch of people suspected of crimes linked to the province’s ongoing rural bank meltdown, which this weekend led to clashes involving protestors demanding the return of their deposits.

The scandal came to public attention in April, when several village banks in the province suspended their online banking services, effectively locking their customers around the country out of their accounts.

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