Skip to Main Content

Inside China's Underground Black Market Banks

Fishy finance

They front as phone vendors or tea shops, but China's multi-million-dollar underground banks boast high-flying patrons—gamblers, Communist Party bigwigs and the country's nouveau riche.

Brendon Hong

Published Feb. 26 2014 5:45AM EST

articles/2014/02/26/inside-china-s-underground-black-market-banks/140225-hong-underground-bank_myh7qk — Brent Lewin/Bloomberg, via Getty

Brendon Hong

Brendon Hong

Got a tip? Send it to The Daily Beast here.