In the past two months, a large number of P2P (Peer to Peer Lending) companies have closed in China. One report showed that 60 to 70 P2P companies closed just in one day. Tens and millions of investors are affected, including some seniors who have lost their entire retirement savings. On August 6, the P2P victims around the country planned a group petition in front of the China Banking and Insurance Regulatory Commission (CBIRC) in Beijing but the officials planned ahead of time to block these petitioners. The Epoch Times article showed photos of the shuttle buses lined up outside of the CBIRC building that were ready to take the petitioners away. The screen shot of a notice from the Public Security Bureau of Wenzhou City showed that the top leader of the local authorities in each region was told to take responsibility for stopping the P2P petitioners from going to Beijing. Otherwise they would face serious consequences. The notice also ordered all levels of the security forces to be ready to carry out the task of monitoring the petitioners. One document from an unidentified province advised that the authorities were aware that there were 8,370 people from 32 cities and provinces who all had plans to go to Beijing; it put them all under close surveillance. One notice from a Public Security Bureau of a railway station ordered that the local security bureau must take action to prevent the petitioners from boarding the train to Beijing. The embedded videos showed police stopping the petitioners from leaving their homes or taking them off of trains or out of hotel rooms. One petitioner told a police officer that they should be clear what kind of government they are serving: “Wake up! One day what we face today will be the same thing you face tomorrow.” Another victim said, “They locked us up without even giving us a reason. The government is so dark.” Members of the police force have become the dogs of the corrupt officials. Where did tens and billions of P2P funding go? Has it become a tool for officials to launder money?
Source: Epoch Times, August 6, 2018