China's biggest bank scam expose
china's biggest bank scam: china's biggest bank scam busted, 234 arrested in 46 thousand crore scam Big bank scam busted in China. police have arrested 234 people for siphoning off life-long deposits of people with false promises of high-interest rates in rural banks.
He illegally operated and took full control of four rural banks in Henan province. These people used to lure investors that they would get 13 to 18 percent interest on the deposits annually. By taking investors into confidence, these people carried out a big bank scam.
The case of the bank scam in china came into the limelight in the world when artillery was erected outside banks in many provinces including Henan. Actually, the investors had gathered to withdraw their deposits from the bank. When they did not get the money, huge protests started. After which the government had to take this step in view of security.
He illegally operated and took full control of four rural banks in Henan province. These people used to lure investors that they would get 13 to 18 percent interest on the deposits annually. By taking investors into confidence, these people carried out a big bank scam.
The case of the bank scam in china came into the limelight in the world when artillery was erected outside banks in many provinces including Henan. Actually, the investors had gathered to withdraw their deposits from the bank. When they did not get the money, huge protests started. After which the government had to take this step in view of security.
These four rural banks in Henan suspended their online banking services from april 18. After this people were not even able to do online transactions. Banks had banned withdrawals from customers' accounts citing system upgrades. Big blow to China's banking system This great scam of china has dealt a big blow to the country's $52 trillion banking system since the year 2019. The government then seized control of a lender in Inner Mongolia.