Chengdu investors protest investment scams

Chengdu, Sichuan Province: More than 1,000 investors demonstrated in Chengdu on Tuesday, Jan. 20, 2015. They demanded repayment of money from trust and investment corporations that had disappeared without paying investors any returns. The amount involved is more than ¥10 billion. The victimized investors have demonstrated several times, but have had no success getting their money back.

The companies include Huitong Financial Guarantee Corporation, Chuangji Wealth Group and other investment groups. Demonstrators also called for the arrest of Wang Yongqi, section chief of the business department’s financial guarantee section.

According to an article posted to the Internet by a netizen: “Trying to See a Flower in a Fog—Wang Yongqi—the Chicanery behind the Sichuan ¥10 billion Financial Scam,” Wang Yongqi bears inescapable responsibility for the recent spate of Sichuan investment companies running off with peoples’ money. He is even suspected of criminal involvement. The netizen also wrote that Wang Yongqi’s daughter Wang Junxiu is a shareholder and deputy general manager of Chengdu Xinshengtong Investment Money Management Consulting Corporation and is deputy general manager of Aobang Trust Corporation.

http://www.boxun.com/news/gb/china/2015/01/201501210610.shtml