Caixin OnlineFinance & EconomicsTop Stories Finance A Wealth Management Product Fails in China. So Who Pays?
12.06.2012 16:22

A Wealth Management Product Fails in China. So Who Pays?

After Huaxia investors put millions into a plan they thought was guaranteed and a businessman apparently stole the money, bickering has erupted about compensation
By staff reporters Shen Hu and Li Xiaoxiao
 
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(Shanghai) – A crowd of angry investors packed the Shanghai branch of Huaxia Bank on December 3.

They had heard the first of four phases of repayment in a 119 million yuan wealth management plan had not been made and demanded Huaxia return their investments. 

Among the protesters was a factory owner from nearby Ningbo who rushed to Shanghai with his wife and groom-to-be son after hearing his investment was in trouble.

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