Swindler charged with fraud
Print Edition
A MAN who swindled people of millions of yuan by promising them properties at lower prices has been charged with fraud, prosecutors in Zhabei District said yesterday.
The swindler, surnamed Wu, who owned villas and luxury cars, needed money to invest in the stock market.
To raise cash, he told people that he had a relative who was the owner of a famous real estate group and promised them heavy discounts.
In September last year, he got in touch with a man, surnamed Sun, who wanted to buy a house. Wu told Sun that he could help him buy a house, priced at 18 million yuan, for as low as 10 million yuan. He gave Sun a bank account which he claimed was the account of the real estate company.
Wu asked Sun to transfer 3 million yuan into the account as advance for which he issued him an invoice which turned out to be a fake. A month later, Sun again paid him 14 million yuan to buy houses in Qingpu District. He even introduced a friend, surnamed Ma, who also shelled out 3.3 million-yuan to Wu.
Soon after, Sun checked the invoices and found they were all forged ones.
Besides Wu and Ma, there were several others who lost millions to Wu.
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