- CNTV English - CCTV News

Homepage > News > Biz >

Twenty-six illegal banks broken up in south China

05-12-2010 08:43 BJT

SHENZHEN, Guangdong, May 11 (Xinhua) -- Chinese police and finance authorities broke up 26 illegal banks in south China's Guangdong Province last month, a police officer said Tuesday.

The illegal banks were uncovered in a joint operation between the Shenzhen police, commercial banks and foreign exchange management authorities on April 22, during which 71 people allegedly involved in illegal money transactions were arrested, said He Zhaolang, deputy head of the economic crimes investigation section of the Shenzhen City Public Security Bureau, at a press conference.

He said the illegal operations involved 12.7 billion yuan (1.86 billion U.S. dollars).

Police also confiscated 8 million yuan in cash, more than 600 bank cards and 120 seals, and froze 371 bank accounts, he said.

The underground banks had set up offices in Hong Kong or Shenzhen, carrying out money laundering services and illegal foreign exchange deals, which had seriously disrupted China's finance and foreign exchange management systems and encouraged corruption, smuggling or drug trafficking, said He.

Police are continuing their investigations.

Editor:Zhang Jingya |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program