Officials from CBRC Yunnan branch were not available for comment on Friday August 21, but an official from the economic crime investigation department of the Kunming municipal police bureau told Metal Bulletin on Thursday afternoon that it had been notified.
“The Fanya case has caught our attention,” he said.
“Now the Yunnan branch of the China Banking Regulatory Commission has set up a panel to deal with the Fanya case and they will explain the situation.”
The move comes in response to complaints by Fanya investors to city police forces and the authorities that the exchange had mishandled their investments, chiefly in indium and germanium.
The Fanya exchange is located in city of Kunming in China’s Yunnan province.
Investors have previously reported the exchange to the economic crime investigation departments in Beijing, Shanghai, Shenzhen...