Woman wins US$16,000 payout
Print Edition
A WOMAN has been awarded more than 100,000 yuan (US$16,000) in compensation after being defrauded by an agent for an insurance firm, the Pudong New Area People’s Court said yesterday.
The plaintiff, Li, sued the company, which was not named, after claiming she had been swindled by the agent.
The court ruled in Li’s favor and ordered the insurer to pay her 105,174 yuan to cover her losses.
Li invested 120,000 yuan in an investment product that promised to pay interest every three years. However, shortly after receiving the first such payment — of 4,000 yuan — Li found the account had been drained of all but 200 yuan.
An investigation found that the agent, identified as a man called Wang, had transferred 105,174 yuan from the investment account into a bank account he had opened in Li’s name.
The court did not say what Wang did with the money or whether he had been charged with the alleged crime.
It also did not explain the discrepancy between the account balance and the amount of money transferred.
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