Fanya chairman captured by investors; talks held in presence of Shanghai police

Furious investors seized Shan Jiuliang, chairman of the Fanya Metal Exchange, at the weekend, and handed him over to the Shanghai police force, leading to talks between investors and Shan in front of the police.


Fanya chairman Shan Jiuliang was seized by angry investors 

Shan fell over when arguing with the furious investors

Shan being driven to the police station
On Saturday morning, investors raided a hotel in Shanghai and captured the head of the minor metals exchange before driving him to the nearest police station.
The police then took custody of him, and later hosted talks between the two parties. 
Investors have expressed concern in recent months that they may lose billions of dollars because of their investments in Fanya, a domestic trading platform that trades and stockpiles minor metals, including indium, bismuth and germanium.
It is reported that a total of 220,000 investors have invested 40 billion yuan ($6.25 billion) in Fanya’s asset management product Ri Jinbao, which promised an annual yield of about 13-14%.

“We spent two hours negotiating with...

Published

Linda Lin

August 24, 2015

11:40 GMT

London