Over 200 Arrested in China Banking Scandal: What Happened?

Authorities in China are cracking down on a major banking scandal centered in Henan province, leading to the arrest of over 200 people. Recent reports indicate that Chinese police have arrested 234 suspects allegedly involved in a rural banking scandal, a month after hundreds of depositors protested over their lost savings. The arrests follow investigations into at least four banks in China's Henan province where authorities cracked down over alleged mismanagement of funds. The regulators froze the funds of customers which led to widespread frustration and public demonstrations.

JUST IN: 🇨🇳 Chinese police arrest over 200 people linked to one of the country’s largest banking scandals ever. According to China law enforcement, a criminal gang is suspected of being at the heart of the scheme.

At least 200 suspects have been arrested for their alleged link to one of China's biggest-ever banking scandals, according to initial reports. Chinese police said they have arrested 234 people as part of their ongoing investigation. This scandal has triggered rare mass protests and dealt a major blow to public trust in the banking system.

Stay updated on the latest developments in this ongoing China banking scandal and its implications.