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September 30, 2013

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Man goes to jail for swindling merchants

A MAN was sentenced to 11-and-a-half years in prison for swindling more than 1.5 million yuan (US$245,100) from three merchants, Baoshan District People’s Court said yesterday. 

In one case, Xu Qi pretended to be organizing a Faye Wong concert.

The court heard that Xu, 32, spent money lavishly and often borrowed cash from others. When Xu couldn’t afford to repay his friend, surnamed Yu, he concocted a scheme to fool her.

He claimed he was the project leader at an investment firm and that it was going to host a concert with popular Hong Kong singer Faye Wong.

He forged an official document and asked Yu to invest in the concert, the court said.

She believed him and signed a contract. Yu paid him more than 500,000 yuan in several installments last year, but never heard when the company would hold the concert.

Yu called police earlier this year when she called the investment firm and found out there was no concert.

At the end of last year, Xu swindled 1 million yuan from two merchants, surnamed Cai and Shen, who sold seafood gift boxes.

Xu told them he worked on behalf of Baosteel and could help them secure a contract for the gift boxes.

He had forged a Baosteel trade union seal and signed contracts with Cai and Shen.

The merchants paid Xu 1 million yuan as a commission, the court said.

Xu was also fined 20,000 yuan, the court said.



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