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Fraud convict gets 14-year jail sentence
By Zhao Wen |
December 5, 2011, Monday
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Online Edition
Online Edition
A woman who cheated her friends out of more than 4.23 million yuan (US$664,729) by promising high returns on their investments was sentenced to 14 years and six months in prison for fraud, the Minhang District People's Court said today.
Sun Ying, the 36-year-old convict, was also fined 10,000 yuan, the court ruled.
Sun was a Shanghai company manager and duped her two friends into putting 4.23 million yuan in her bank account between March 2006 and February 2010.
Prosecutors said Sun told Wang and Shen that they would receive an investment return of 20 percent because she was a bank employee.
Sun also used her husband's villa in Kunshan, Jiangsu Province to lure Wang and Shen, claiming it was a mortgaged property of her bank and was included in the return of their investment, the court heard.
She was held by the police on September 29.
Sun Ying, the 36-year-old convict, was also fined 10,000 yuan, the court ruled.
Sun was a Shanghai company manager and duped her two friends into putting 4.23 million yuan in her bank account between March 2006 and February 2010.
Prosecutors said Sun told Wang and Shen that they would receive an investment return of 20 percent because she was a bank employee.
Sun also used her husband's villa in Kunshan, Jiangsu Province to lure Wang and Shen, claiming it was a mortgaged property of her bank and was included in the return of their investment, the court heard.
She was held by the police on September 29.
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