THE Futian police released the latest updates on six P2P platforms under investigation for being involved in illegal fundraising Saturday morning. The assets of some of the P2P platforms were frozen and the involved suspects were arrested, the Southern Metropolis Daily reported.

The five Shenzhen-based P2P platforms included QianBaba, FortuneChina, United Financial, Ganchu Internet Financial, Xianyu Financial and Wuxingcaifu.

Police from the Futian District Public Security Sub-bureau had already frozen QianBaBa’s more than 40 million yuan (US$5.86 million) in capital and seized 11 properties under the names of the platform’s owner and executives. Four people suspected of involvement in financial scams are under detention.

The other two P2P firms, FortuneChina and Ganchu Internet Financial, have also been deprived of properties. According to Futian police, they have seized 52 properties related to FortuneChina in Chongqing. Investigative teams all around China are now looking into the company’s records of third-party payment.

As for Ganchu Internet Financial, police have frozen 20 involved bank accounts with over 8 million yuan, seized two properties and impounded 17 rental vehicles. Police have also seized a Porsche SUV and 36 other vehicles owned by suspects from the company.

Futian police are currently chasing after several fugitives from the above P2P firms with the district procuratorate’s approval to arrest. (Zhang Qian)