Angry investors drag Fanya Metals Exchange head from hotel

DRAMATIC photos posted to social media show the moment the head of a Chinese company was dragged from his luxury hotel by a mob of angry investors.

DRAMATIC photos posted to social media show the moment the head of a Chinese company was dragged from his luxury hotel by a mob of angry investors.

Shan Jiuliang, the head of Fanya Metals Exchange, was captured by the group as he attempted to check out of his Shanghai hotel in the early hours of Saturday.

The Financial Times reports they were attempting to force authorities to investigate why their funds had been frozen, after it ceased making payments on investment products in July.

The investors, some of whom had flown in from faraway cities to join the hundreds protesting, manhandled Mr Shan into a car and delivered to Shanghai police. He was later released without charge.

Fanya Metals is an exchange which buys and sells minor metals such as indium and bismuth, while also offering high-interest investment products.

Photos of Mr Shan’s capture and protests in Shanghai were posted to social media site Weibo. Mr Shan has not commented publicly, but his company denounced the raid.

“Violent acts against president Shan and our employees or the disturbance of our work are destructive of our work around solving the crisis,” Fanya Metals said in a statement on its website.

“This will only allow forces behind the scenes to profit and will greatly harm interests of all members.”

According to the Financial Times, many investors said they bought into Fanya’s financial products because they were advertised on CCTV, China’s national broadcaster.

It said despite the company’s widely reported problems, its products were still being advertised on train networks.

Fanya Metals head Shan Jiuliang was dragged from his hotel. (Image: Weibo)

The exec was handed over to the police, but released without charge. (Image: Weibo)

The company has reportedly had liquidity troubles since July. (Image: Weibo)