Police retrieve $174m in illegal funds

Updated: 2012-01-06 09:29


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BEIJING - Police retrieved nearly 1.1 billion yuan ($174 million) raised through illegal fundraising during a crackdown campaign that lasted from Nov 10 to Dec 15, 2011, according to figures revealed at a national meeting of public security authorities on Thursday.

Official statistics indicated that police across China investigated 420 illegal fundraising cases involving nearly 10 billion yuan during the period.

Liu Jinguo, deputy minister of public security, addressed the meeting, urging police organs to check local regions thoroughly and follow up on cases of illegal fundraising.

In their followup efforts, police should focus their efforts on capital-intensive sectors that are vulnerable to illegal fundraising, including equity investment, real estate, minerals and energy, according to Liu.

Liu also asked police to encourage the public to support the crackdown by offering tips to authorities.