Police crack securities scam, seize 120 suspects   

中国警方侦破系列非法经营证券业务案抓获120多人

湖北、广东、江苏、河南、重庆、四川等6省、市公安机关，近日成功侦破深圳新财智公司非法经营证券业务犯罪系列案件，共破案100多起，捣毁犯罪窝点8个，抓获涉案人员120多名。

Beijing (CNS) -- Eight criminal dens have been smashed, 120 suspects have been apprehended, and over 100 cases pertaining to a Shenzhen company engaged in securities fraud have been solved, according to China's Ministry of Public Security on Wednesday.

Police in Hubei and Guangdong had been investigating the operations of the Shenzhen Xin Caizhi Company since the beginning of the year.

The company set up nine branches in the provinces of Hubei, Guangdong, Jiangsu, Henan, Sichuan and the megacity of Chongqing without approval from national authorities, the ministry said.

It involved over 2,000 investors and more than 50 million yuan, added the ministry.