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Watch out for dodgy advice on investment

POLICE are alerting people to a con that has been on the increase in recent weeks in which fake stock information is given online and via cell phone messages.

A local man, surnamed Ma, lost 200,000 yuan (US$29,263) last month, officers said. A stock investing company he saw online offered instant stock market information and high-interest repayments. But the company disappeared after Ma transferred 200,000 yuan to its account.

On March 1, a resident surnamed Wang transferred 104,000 yuan to a swindler posing as a stock agent, lured by the promise of big profits, officers said.

Police said there had been an increase in such crimes with the recent rebound of the stock market. A total of 145 similar swindles had been reported up to March 10.

Police said investors should be cautious with investment advice, especially on the Web.


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