Over 100 private investors Thursday descended on the Shanghai offices of a Chinese securities firm, which has connections to the release of...
Unpaid Investors Seek Redress From Firm Connected To ‘Ip Man 3’ Backer
Chinese media and international news agencies, including Reuters and Bloomberg, reported that angry investors Thursday visited Jinlu Financial Advisors demanding their money back from investments, including some tied to “Ip Man 3.”
The martial arts film starring Donnie Yen and Mike Tyson was released in China on Feb. 29 and registered a first week box office score of $72 million. However, China’s film industry regulator quickly penalized the distributor Max Screen, ticketing agencies and a number of cinemas for inflating the film’s performance. They distorted the figures by buying $8.66 million (RMB56 million) of tickets to their own movie, creating fake screenings and setting artificially high ticket prices.
Bloomberg reports that the wealth management products were created jointly by Jinlu and Kailu Investment Group.