Voice of America: New 'Private Equity' Scams Target China Retail Investors

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

New 'Private Equity' Scams Target China Retail Investors Feb 27th 2013, 22:03 Thousands of retail investors in the Chinese city of Tianjin say they were tricked out of more than $500 million by sellers of illegal wealth management products. It's part of a growing problem stemming from China's rush to develop its private equity sector. Scam private equity businesses mushroomed in China after a government drive to promote the industry in 2009, leading to a flood of licenses for new firms that were issued without proper regulation. While private equity is ... Media files: A17E68CD-031F-4FA8-99A9-9FA93833950E_cx0_cy4_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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