Caixin OnlineFinance & EconomicsTop Stories Finance Investors in Fraudulent Wealth Management Plan Repaid
01.23.2013 16:26

Investors in Fraudulent Wealth Management Plan Repaid

Eighty people have their principal in a bad Huaxia Bank product returned, but it was unclear where the money came from
By staff reporter Shen Hu
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(Shanghai) – Investors who bought into a fraudulent wealth management plan got their money back without interest.

About 80 investors have received payments equal to their principal investment, several investors said. They agreed not to seek any interest.

The agreement was reached at a meeting on January 9 at Huaxia Bank's Jiading branch in suburban Shanghai, where the wealth product was sold.

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Twenty months into a campaign against corrupt leaders, the crackdown is accelerating and the public is in the loop
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