An Australian brokerage said on Monday it was concerned for the safety of three of its staff at its Shanghai office who are continuing to be held hostage by irate investors who lost money on foreign exchange deals.
Union Standard Group Forex (USGFX) said it was working with Chinese authorities to resolve the situation but added local police had not yet forced an end to the impasse.
“This is a clear violation of the law with intruders holding people against their will. I would have thought that the police would intervene at this stage,” said Justin Pooni, marketing manager for USGFX. “We are continuing to work with the local authorities in an attempt to bring this situation to end.”
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