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September 26, 2012

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Pyramid fraud

TWENTY-SEVEN pyramid schemes have been detected and fines totaling 90.87 million yuan (US$14.51 million) were handed out over the past three years, the Shanghai Industrial and Commercial Administrative Bureau said yesterday. The latest case involved a 47-year-old Shanghai native who was sentenced to 18 months in prison for signing up 259 members and earning more than 112,000 yuan through an elaborate pyramid selling scheme.


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