Dongguan P2P lender investigation accelerated

By Chen Xi Source:Global Times Published: 2019/4/9 1:27:08

Authorities in Dongguan, South China’s Guangdong Province will increase investigation efforts into a peer-to-peer (P2P) lending platform, which had allegedly siphoned public deposits, to recover investor losses.

Dongguan’s public security bureau announced Monday that local authorities are trying to protect the asset value of P2P lending platform tuandai.com in accordance with the law, and will increase efforts to locate the company’s assets. 

Officials also said that those who evade debt payment will face severe punishment. 

The announcement came after two men, surnamed Tang and Zhang, who ran the online loan platform, handed themselves over to Dongguan authorities on March 27. 

Local law enforcement has imposed criminal measures against Tang and Zhang, according to the announcement.  
 
The Dongguan public security bureau has frozen 3.11 billion ($463 million) yuan from the platform, and seized 35 real estate properties, a private plane, 40 automobiles while apprehending 44 suspects.

Police with the investigation have provided four methods for investors to provide their information. Over 30 special units have been created to help Dongguan authorities with the ongoing investigation. 

A bank account has been set up for borrowers to return the money they took through the platform, said a second statement. 

Some investors took to the streets demanding their money back, a Dongguan resident told the Global Times on Monday. 

The announcement also said that three people have been detained for starting rumors and spreading fake documents.

Local railway officials issued a notice on Friday informing travelers the Hongfu and Qifeng Park Stations would be closed Saturday.


Posted in: SOCIETY,COMPANIES

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