Bank clerk con man jailed for 7 years
Print Edition
A BANK clerk who tricked people into investing more than 60 million yuan (US$9.8 million) in spurious high-interest financial products has been sentenced to seven years in prison, Zhabei District People’s Court heard yesterday.
The man, surnamed Li, was also fined 200,000 yuan.
From 2009-12, Li convinced at least five of the bank’s customers to invest in the scheme while his associate, surnamed Xu, helped him secure funds from several other victims.
After being alerted to the crime, police contacted Li in January of last year and asked him to surrender himself to the authorities. Soon after, Li returned 50 million yuan to his victims, then confessed his crime to police.
Li’s lenient sentence reflected the fact he had cooperated with the authorities, according to the court.
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