Fanya chairman among 16 suspects arrested by Kunming government

Kunming Municipal People’s Procuratorate, the local prosecuting body, has arrested 16 key suspects, including Fanya’s chairman Shan Jiuliang, as part of its investigation into the activities of the minor metals bourse, the Yunnan regional government said in a statement on February 5.

“Kunming police placed a case on file to investigate the Fanya Metal Exchange and its authorised service agencies on [the] illegal absorbing [of] public deposits on December 1, 2015,” the Yunnan government said on its local news website.

According to the investigation, the government found that Fanya changed its trading rules without authorisation in April 2012 and then launched its stock...

Published

Rena Gu

February 11, 2016

12:47 GMT

Singapore