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Ex-convict indicted again for 6.7 million yuan fraud
By Zhao Wen |
February 28, 2012, Tuesday
|
Online Edition
Online Edition
A Shanghai woman who pretended to be a property developer and swindled more than 6.7 million yuan (US$1.06 million) from victims who paid her guarantee money to secure construction contracts has been charged with fraud in a Pudong court.
Prosecutors said the woman surnamed Shu set up a real estate development company under the names of her husband and son in July 2006 and used the company as cover to cheat people. The company never developed a single property before her arrest.
In October 2010, Shu got acquainted with a man surnamed Shen and learned that his friend wanted to invest in real estate.
To get Shen involved in the fraud, Shu feigned admiration for Shen's talent and hired him as her company's general manager and paid him US$20,000 a month, the prosecutors said.
Shu said she spent 4,000 yuan to forge certificates and permits for several real estate projects along Kangshen Road in Pudong.
Convinced by her fake documents, Shen told his friend surnamed Wu to bid for the projects. Shu asked Wu to pay 3.36 million yuan as guarantee money and used the same method to cheat 3.4 million yuan out of two other companies.
Shu was arrested last October after her clients found they were deceived and reported to the police.
Prosecutors said Shu had a criminal history. She was sentenced to 18 years for embezzlement in 1995 and was released on parole in February 2006.
Prosecutors said the woman surnamed Shu set up a real estate development company under the names of her husband and son in July 2006 and used the company as cover to cheat people. The company never developed a single property before her arrest.
In October 2010, Shu got acquainted with a man surnamed Shen and learned that his friend wanted to invest in real estate.
To get Shen involved in the fraud, Shu feigned admiration for Shen's talent and hired him as her company's general manager and paid him US$20,000 a month, the prosecutors said.
Shu said she spent 4,000 yuan to forge certificates and permits for several real estate projects along Kangshen Road in Pudong.
Convinced by her fake documents, Shen told his friend surnamed Wu to bid for the projects. Shu asked Wu to pay 3.36 million yuan as guarantee money and used the same method to cheat 3.4 million yuan out of two other companies.
Shu was arrested last October after her clients found they were deceived and reported to the police.
Prosecutors said Shu had a criminal history. She was sentenced to 18 years for embezzlement in 1995 and was released on parole in February 2006.
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