SHANGHAI: Chinese authorities have uncovered an “underground bank” which illegally transferred money overseas in a case valued at US$64bil (RM275.2bil), said to be the country’s largest ever, according to a police statement.
Police in the eastern city of Jinhua found that the chief suspect, whose surname was given as Zhao, set up shell companies in Hong Kong and then made transfers from the mainland through a network of more than 800 bank accounts, said a Jinhua police statement posted on Friday.
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