A former deputy head of a Shanghai Pudong Development Bank branch in Zhengzhou allegedly used 6.4 billion yuan in depositors' money to fund loan-sharking schemes. Photo: Bloomberg A former deputy head of a Shanghai Pudong Development Bank branch in Zhengzhou allegedly used 6.4 billion yuan in depositors' money to fund loan-sharking schemes. Photo: Bloomberg
A former deputy head of a Shanghai Pudong Development Bank branch in Zhengzhou allegedly used 6.4 billion yuan in depositors' money to fund loan-sharking schemes. Photo: Bloomberg

Scandals set off watchdog warnings

Shanghai's banks told to set up complaint hotlines to protect investors after sales of failed wealth products and other irregularities

A former deputy head of a Shanghai Pudong Development Bank branch in Zhengzhou allegedly used 6.4 billion yuan in depositors' money to fund loan-sharking schemes. Photo: Bloomberg A former deputy head of a Shanghai Pudong Development Bank branch in Zhengzhou allegedly used 6.4 billion yuan in depositors' money to fund loan-sharking schemes. Photo: Bloomberg
A former deputy head of a Shanghai Pudong Development Bank branch in Zhengzhou allegedly used 6.4 billion yuan in depositors' money to fund loan-sharking schemes. Photo: Bloomberg
READ FULL ARTICLE