8 accused of US$30m currency racket
Print Edition
A GROUP of eight currency dealers accused of exchanging money worth more than 200 million yuan (US$30 million) is facing charges of illegal operations, according to prosecutors of the Pudong New Area.
They said yesterday the group, led by a Hong Kong woman surnamed Sun, helped dozens of people exchange foreign currencies, including US$18.07 million, HK$59.58 million (US$7.7million) and C$8.75 million (US$6.6 million) between August 2014 and June 2016.
The central government has imposed a US$50,000 yearly limit on individuals converting yuan to foreign currencies.
Prosecutors said Sun, who settled in Shanghai, has been jailed by local courts three times for illegal currency exchange transactions.
After her last jail term, she established relations with a family surnamed Ma in Gansu Province, who prosecutors said ran a black market currency operation. At first, she herself solicited customers and later she had subordinates take over, prosecutors said.
Among them, three were workers from a local China Everbright Bank outlet. They illegally exchanged US and Canadian dollars worth about 140 million yuan, prosecutors said, adding Sun received about 1 yuan from every US$1,000, and her subordinates earned less.
- 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.
