Owner of China-Listed Finance Company Indicted for Organized Crime

On September 17, several major news websites in mainland China reported that the China-listed investment holding company China Create Capital Limited announced its owner, Zhang Wei, has been indicted on 11 counts of heading a “mafia-style gang” and illegally raising public funds. As previously reported by the Chinese language Epoch Times, Zhang and 43 of his colleagues were arrested in April last year for what the government said was criminal activities. China’s state media said that the mafia-style criminal group China Create Capital Limited had been charged with illegally raising public funds for non-existent investment projects through its online peer-to-peer (P2P) lending platform “88 Wealth Network.” Zhang and his accomplices got rich from the P2P scheme by lending the investment funds out as high-interest loans, and then using violent means if necessary to recover interest payments from borrowers.