Police investigate over 6,800 criminal cases of illegal fundraising in 2020

BEIJING -- Public security organs across China launched investigations into over 6,800 criminal cases of illegal fundraising in 2020, the Ministry of Public Security said Thursday.

The cases involved more than 110 billion yuan (about $17 billion). Some 16,000 suspects were captured, with over 80 fugitive suspects arrested overseas, according to the ministry.

To contain the financial risks brought about by peer-to-peer (P2P) lending, Chinese police investigated over 60 such online lending platforms, said the ministry.

In 2020, more than 80 illegal fund-raising cases under the name of elder care services were investigated and punished, it added.