Forex trader arrested over scam
Print Edition
A MAN has been arrested for running a foreign exchange trading scheme that cheated investors out of 30 million yuan (US$4.8 million), prosecutors in the Pudong New Area said yesterday.
The suspect, surnamed Lu, worked with two accomplices — both of whom are still under investigation — to lure wealthy individuals into investing in a spurious scheme with the offer of high rates of interest, prosecutors said.
One alleged victim, a businessman surnamed Qin from northeast China, invested more than 10 million yuan after being offered returns of up to 18 percent a month.
But after receiving just 3 million yuan in “interest,” Qin was told the company was facing difficulties, and Lu disappeared soon after.
- 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.
