Yunnan government deciding whether Fanya should face fraud charges

The Yunnan regional government in China has said it is now deciding whether the Fanya minor metals exchange should face fraud charges.

The Yunnan government stressed that the matter will be handled strictly according to the law. “We are now investigating and collecting evidence to analyse whether Fanya should be suspected of fraud,” it stated. “According to criminal law, in judging whether [the actions of] the Fanya Metals Exchange constitute fraud, attention must be paid to the following points,” the authority said on its local news website on Friday October 23. “Check whether Fanya fabricated trading activities and transaction parties, and hid the real situation. “Check the exchange’s purpose and use of the funds to see whether it was the main body raising funds, whether it formed a funds pool and could actually control the pool. “Check whether it can provide [paper trails for the] flows of funds, whether it...

Published

Rena Gu

October 27, 2015

12:20 GMT

London