# fraud
Latest news and articles about fraud
Total: 2 articles found

Shenzhen ‘Private Gold’ Scheme Freezes Withdrawals as Investors Face Billion‑Yuan Losses
A Shenzhen‑based private gold platform, Jieworui, has frozen withdrawals and offered investors steep haircuts, leaving potential claims exceeding 100 billion yuan and tens of thousands affected. The product was a high‑leverage, social‑media‑distributed ‘lock‑price’ scheme that failed when rising gold prices overwhelmed the operator’s liquidity, prompting regulatory scrutiny and potential criminal probes.

Forged Seal and a Hidden Channel: How a 3.5bn RMB Loan Became a Bank’s Biggest Loss
A forged corporate seal and a multi‑layered interbank channel enabled the disappearance of Rmb3.5bn in a loan scheme that implicated multiple banks and asset managers. Criminal convictions followed, but a Supreme People’s Court ruling that the deposit was part of an illegal collusion left the originating bank to absorb the loss and restart litigation against several counterparties seeking partial recovery.