Hasty Briefsbeta

China's 'gold fever' sparks US$1B scandal as trading platform collapses

5 days ago
https://www.scmp.com/economy/china-economy/article/3341633/chinas-gold-fever-sparks-us1-billion-scandal-trading-platform-collapses
Copy Link
  • #gold trading
  • #financial scandal
  • #China
  • China's gold trading platform JWR collapsed amid a liquidity crisis.
  • Investors rushed to cash in on surging gold prices, leading to over 10 billion yuan in losses.
  • Hundreds of investors protested in Shenzhen, prompting police intervention.
  • A task force was set up to investigate JWR's abnormal business operations.
  • Unpaid funds may exceed 10 billion yuan, according to investor estimates.
AboutLogin