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July 16, 2010

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Fraud trial

A MAN who allegedly defrauded 15.5 million yuan (US$2.29 million) from more than 10 victims went on trial yesterday at Shanghai No. 1 Intermediate People's Court.

From 2004 to 2006, Chen Miguo, a local native, is said to have borrowed money by promising high returns from a non-existent Vietnam power plant. He disappeared in 2007 after he was unable to pay back the interest but was caught in Hubei Province last July.


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