2 held over 5m yuan Ponzi scam
TWO people accused of running a Ponzi scheme that cheated investors out of more than 5 million yuan (US$807,000) have been detained, police said yesterday.
The suspects, whose names and gender were not released, are suspected of running a team of people who masqueraded as investment professionals.
Between September and February, the group, which had an office in Huangpu District, swindled more than 80 people aged between 53 and 81, police said.
Several of the victims — lured by the offer of annual returns on property investments of as high as 24 percent — claimed to have lost their life savings.
Most agreed to invest after being approached on the street by one of the company’s agents, police said.
On one occasion, 50 investors were flown to south China’s Guangdong Province to see the sites of the projects they believed they were financing.
In fact, they were random building sites to which the fraudulent company had no connection, police said.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.