Global asset managers in China struggling with fraudulent investor schemes

Global asset managers in China struggling with fraudulent investor schemes

FILE PHOTO: Investors play cards during a mid-day break at a brokerage house in Shanghai, China, July 8, 2015. REUTERS/Aly Song

Global asset managers that have been opening shop in China are grappling with rampant scams where online fraudsters dupe investors with juicy returns using their brands and logos, a practice known in the market as “pig butchering”.