KUNMING, July 1 (Xinhua) -- A total of 21 suspects and four companies stood for trial in southwest China's Yunnan Province for illegal fundraising, the Kunming Intermediate People's Court said on Sunday.
The public trial took place from Saturday to Sunday at the court, it said.
The Kunming City People's Procuratorate charged that from 2012 to August of 2015, Kunming Fanya Metal Exchange, Yunnan Tianhao Rare and Precious Metals Co. Ltd, and other defendants violated national law and illegally raised funds from the public. They sabotaged financial order and caused great losses for people involved.
Prosecutors also charged Shan Jiuliang, board chairman and president of Fanya Metal Exchange, and vice president Yang Guohong with embezzlement.
Fourty-one lawyers of the defendants appeared in court. Families of the defendants, victims, lawmakers, journalists and members of the public witnessed the trial.
A verdict is yet to be made by the court.
