Property Buyers in China Protest As Bank Embezzles Money

Security personnel stand in front of China's Banking Regulatory Commission in Beijing, China, on Aug. 6, 2018, after Chinese police aggressively quashed a planned protest against losses sustained by peer-to-peer (P2P) lending platforms. GREG BAKER/AFP via Getty Images

A Chinese bank had embezzled the supervisory funds belonging to the buyers of a real estate project in China. Hundreds of buyers launched a protest on Oct. 7.

The bank being accused of embezzlement is the Ningbo branch of the China-based Ping An Bank.