46.3 thousand crore rupees biggest banking scam revealed in China, 234 people arrested


Beijing, August 31 (SO News/Agency) The news of the biggest banking scam in China so far is coming out. Bloomberg has published a report in this regard which states that the Central China authorities have taken major action on Monday in the banking fraud case of 580 crore dollars, that is about 46.3 thousand crore rupees. So far, 234 people have been arrested from Hainan city in this scam. There are chances of more arrests in this regard.

According to a Bloomberg report, the mastermind behind this scam is Lu Yuyi and his accomplice. They had illegally taken control of the four national banks of Henan and planned to extort people in the name of high interest rates. At the same time, they lured investors to pay interest at the rate of 18 percent. Thousands of people have accounts in these banks, many of whom have been worried for the past few months as they have not been able to withdraw their money.

It is said that last month i.e. July 10, when some account holders reached the bank to withdraw their money, they found out that they could not withdraw the money. After that, a huge crowd gathered outside the bank and started protesting against the bank. Then came to know about this scam. A huge crowd of people started gathering outside the banks and cannons were deployed to control them.

In fact, thousands of people in Hainan and surrounding areas opened accounts in these banks because they were lured by higher interest rates than other banks. In a rush of greed, people opened accounts in these banks, but when they realized that they could not withdraw their money immediately, some people started rioting. All four banks in Hainan also closed their online services for customers after April 18. Banks cited system upgrades and stopped withdrawing money. Due to non-payment of money, the account holders were very upset. Thousands of people started marching towards the Henan capital, but somehow they were stopped.

However, the scam is now being investigated and the arrests of those involved in the scam have started. The police said that the scam is being investigated as per the law and the money of the account holders will be refunded soon.



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