Chinese authorities arrest 234 suspects linked to Henan banking scandal

People’s Bank of China headquarters, Beijing
People’s Bank of China headquarters, Beijing

Chinese authorities arrested more than 200 suspects linked to a banking scandal in Henan province and started repaying more affected depositors.

Hundreds of thousands of depositors at four rural banks in Henan have been denied access to their deposits since April. Frozen funds at the bank are believed to amount to 40 billion yuan ($5.8 billion).

The crisis made headlines when authorities cracked down on a large protest joined by hundreds of disgruntled depositors in Zhengzhou, Henan’s capital

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