China's Shadow-Banking Crisis: Investigations, Losses, and Arrests
TL;DR Summary
Chinese authorities have taken "criminal coercive measures" against employees of Zhongzhi Enterprise, one of China's largest shadow lenders, as the company struggles to fulfill promised payments to investors. Zhongzhi, a privately held conglomerate, sold investment products to wealthy individuals and companies in China. The arrests are part of China's efforts to contain the growing financial troubles in the shadow banking sector.
- China Scrambles to Contain a Looming Shadow-Bank Meltdown The Wall Street Journal
- Zhongzhi Enterprise Group: China investigates major shadow bank for 'crimes' BBC.com
- China Opens Probes Into Embattled Shadow Banking Giant Zhongzhi Bloomberg Television
- China Investors Face Tens of Billions in Losses Over Zhongzhi Bloomberg
- Police Make Arrests at a Giant Shadow-Banking Firm in China The Wall Street Journal
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