Mason

The ministry also released several typical cases that we

n April 2018, Shanghai police arrested eight people from Shanlin (Shanghai) Financial In

formation Service Co, which was involved in illegal fundraising of more than 60 billion yuan.

The company, with a registered capital of 1.2 billion yuan, adopted a physical store and online ma

rketing to take public deposits. From October 2013, the company opened over 1,000 physical stores

across the nation and trained its employees to sell financial products through advertising and telemarketing wit

h the promise of high interest. In 2015, the company opened online financing platforms to raise money.

The company’s claimed investment projects were found to have no profit

ability, resulting in a huge capital gap that prevented it from repaying investors’ principal and interest. Last

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