# Tangshan Tianhong

The Shadow Within: Greentown China Faces Allegations of Systematic Fraud and Illicit Lending

Greentown China is embroiled in a major scandal involving allegations of systemic fraud and the operation of an illicit 10-billion RMB shadow banking network. Local partners claim Greentown executives used shell companies to misappropriate listed funds for high-interest lending, leading to project failures across multiple provinces.