The Xinhua report said the CBIRC and the People's Bank of China will "resolutely punish financial crimes and protect the legal rights and interests of depositors in accordance with the law"."The criminal group, headed by [the company's CEO] Lv Yi, illegally took control of four rural banks, including Yuzhou Xinminsheng Village Bank, and are suspected of committing a series of severe crimes," the police statement said.
On Monday this week, Beijing Business Today , reported in a now-deleted post that the four banks had started returning money to customers who had over 500,000 yuan in their accounts. "I saw that there was a poster with some rules and regulations for the police on the wall, which clearly require that suspects 'should not be beaten, verbally humiliated or attacked'.One other bank customer, who asked not to be named, said he had more than 7 million yuan deposited at Shangcai Huimin Village Bank and Zhecheng Huanghuai Village Bank, which was all his family's savings.
The man said he had "repeatedly asked for an assessment of the injuries" at the police station, but the police "ignored it".Mr Kang said it was not his first encounter with the police.He believed it was to prevent him from taking part in a protest happening at the time. Mr Liu said he has 2.85 million yuan frozen in his transaction deposit account at Kaifeng's Xindongfang Village Bank.WatchConflict broke out at the People's Bank of China building where hundreds gathered over the freezing of deposits in July last year.
China rich commo one day broke the next
Because it wasn't their deposit.
Henan Anhui Rural Banks still have 2000 depositors with 10 billion yuan not cashed for 9 months!
Same reason that the ALP/ABC wants to bring it into Australia. To punish those they don't agree with.
Sounds like the labor party mantra in keeping everyone else's money to spend on those pies in the sky
. Fake news .
It's a pyramid scheme. Get out of china asap
So now it’s out I guess we can expect this in Australia …… in 4……. 3 …… 2 …..
Just like Trudeau did in Canada. Coming soon to Australia? DictatorDan would if he could.
It would happen here if there was a run on the Banks. Why is this a news item.
The CCP taking lessons from Justin Trudeau?
Yet places like Australia want us to use CBDC’s 😖 What’s better to have, an asset like gold or $5000 in digital savings that can be lost/removed/held/etc at any moment?
Because they live in Canada?