Huang Yuxin

2 weeks ago | caixinglobal.com | Huang Yuxin |Kelly Wang

Explore the story in 3 minutesFive years after the collapse of a massive Ponzi scheme masquerading as an elderly care service in Central China, an official investigation has highlighted systematic inaction and corruption within local government agencies, which allowed this fraud to persist unchecked for over a decade [para. 1]. At the heart of the scandal is Golden Sunset Elderly Care Apartment, initially established in Hengyang, Hunan province, in the mid-2000s.

2 weeks ago | caixinglobal.com | Huang Yuxin |Kelly Wang

Five years after the collapse of a billion-yuan Ponzi scheme disguised as an elderly care service in Central China, an investigation into local government agencies has revealed a pattern of inaction and corruption among officials that enabled the scam to grow unchecked for over a decade. At the center of the scandal is Golden Sunset Elderly Care Apartment, once a landmark private, nonprofit nursing home launched in the mid-2000s in Hengyang, Hunan province.

2 months ago | caixinglobal.com | Huang Yuxin |Kelly Wang

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x New data from China’s top prosecuting body shows that the country’s criminal acquittal rate remains exceptionally low — a phenomenon legal experts attribute to a risk-averse approach taken by courts and an evaluation system that ties conviction rates to prosecutors’ performance.

2 months ago | caixinglobal.com | Huang Yuxin |Kelly Wang

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x When Hefei businessman Cheng Dong learned a metro station would be built close to his car dealership, he decided to do something about it. His solution? Over 35 million yuan ($4.8 million) in bribes given to local metro construction boss ex-vice mayor Yao Kai, according to a source who attended Cheng’s trial in January. The bribes were paid mostly in dealership shares and some cash.

Jan 24, 2025 | caixinglobal.com | Huang Yuxin |Kelly Wang

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x As local governments around China struggle to hit the foreign investment quotas set by their superiors, some turned to a civil servant-turned-businesswoman who used an effective technique to secure billions of yuan — massive fraud. In August last year, Zhou Meixia was sentenced to six and a half years behind bars for illegal foreign exchange trading involving nearly 8 billion yuan ($1.1 billion).