BEIJING: Authorities in central China announced on Monday the arrests of 234 people involved in a scam to bilk people out of theirsavings with the false promise of high-interest rates on deposits in obscure rural banks.
The scandal drew national attention after investors seeking answers about where their money went were prevented from reaching Zhengzhou, the capital of Henan province, when the health status displayed on their mandatory Covid-19 mobile phone apps was suddenly changed to red, preventing them from traveling.
This July 10, 2022 file photo shows plainclothes security personnel standing on the road as people protest at the entrance to a branch of the People’s Bank of China in Zhengzhou, the capital of Henan province. AP PHOTO