A group of furious demonstrators flooded the streets of Shanghai on Monday protesting against an investment company that has failed to keep up with their payments since last year. The protesters are demanding that the government steps up its investigations into Dada Group arguing that the company has been illegally benefiting from their money.

Like Us on Facebook

A second group of demonstrators gathered in the Shanghai Prosecutor's office

Dada Group's account was frozen in December 2015 after Caixin reported about the complaints of investors. Thousands of people had invested a total of 190 million Yuan ($38.7m) in the company's online and offline products.

After traveling by bus for a nearly eight hours, Mr. Shao Tiejun was not reluctant in his pursuit to recover his 200,000 yuan ($30,000) investment.

"This money is basically my life saving. I'm 35, and I have kids and parents to support," he said. "I only want my investment capital. Even if there is one thread of hope I will keep fighting for it."

His suspicions were confirmed when the firm's accounts were frozen.

Efforts by police who were present on site to clear the protesters proved to be futile as the group continued to hand out leaflets and notices while speaking against the Dada Group.

The Chinese stock market is poorly developed and monitored as such con cases have become a growing trend as key investors look for alternatives away from stocks and real estate.

According to Caixin, Ma Shenke, the "actual controller" of Dada's parent company Shanghai Shentong Group, was arrested and detained as the investigations continued.

In June, prosecutors said that Ma and 19 other personnel were accused of "illegally absorbing public deposits and fraud."

Tagschina, Shanghai, Dada Group, mass demonstrations