China tries to quell protests over failed investment scheme
Zhang Xiaolei
Qianbao had as many as 200 million registered users  according to Chinese news reports. The founder  Zhang Xiaolei â dubbed âChinaâs most notorious swindlerâ by one newspaper â turned himself in Dec. 26 to Nanjing police  who are leading the investigation.
The newspaper Huanqiu reported that in an interview Saturday while in police custody   Zhang  âmade it clear Qianbaoâs collapse was due to  his  own greed â but said reckless investors also had to accept the consequences.
Photos released by Xinhua show the balding  bespectacled  Zhang  in handcuffs and a blue vest as he talked to investigators.
âThe police shut down some of the factories in which Qianbao invested  causing the workers to lose their jobs and leaving us unable to get our money back â said Zhan. To salvage what is left  he said  âwe appeal for the release of Zhang Xiaolei.â
Qianbao had as many as 200 million registered users  according to Chinese news reports.  [TGT]  turned  [TGT]  in Dec. 26 to Nanjing police  who are leading the investigation.
The newspaper Huanqiu reported that in an interview Saturday while in police custody   Zhang  âmade it clear Qianbaoâs collapse was due to   [TGT]   own greed â but said reckless investors also had to accept the consequences.
Photos released by Xinhua show the balding  bespectacled  Zhang  in handcuffs and a blue vest as  [TGT]  talked to investigators.
âThe police shut down some of the factories in which Qianbao invested  causing the workers to lose their jobs and leaving us unable to get our money back â said  [TGT] . To salvage what is left   [TGT]  said  âwe appeal for the release of Zhang Xiaolei.â