Public financial fraud case suspects nailed

A major suspect in a case where public deposits were illegally absorbed has been nailed, Shanghai police announced Wednesday.

In the case, a company called Shanghai Chengyu Investment Holding Group allegedly illegally attracted public deposits via the Internet platform qianmama.com.

Police said they started their investigation in June after receiving reports from victims.

The company's director, surnamed Liu, was caught by police last month, and another major suspect, surnamed Wu, was apprehended on September 10.

Meanwhile, police have frozen over 50 bank accounts and real estate properties of the company and other suspects.

Police said they have acquired all the data from qianmama.com, as well as third-party payment data, and are undertaking an audit so as to allow for the tracking of funds after determining the amount of investment made by each investor.