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124 held after probe into investment loss
Police have apprehended 124 people in northeast China鈥檚 Jilin Province in connection with more than 280 Internet and telecom fraud cases.
An investigation was launched in May, when a resident in Liaoyuan reported the loss of more than 540,000 yuan (US$82,000) that had been invested in an online company in northwest China鈥檚 Shaanxi Province.
Police said they went to Changchun, Qingdao, Changsha and Xi鈥檃n to investigate and homed in on an office building in Xi鈥檃n after retrieving more than 20,000 pieces of transaction data and 80 hours of surveillance footage.
In late August, police in Liaoyuan and Xi鈥檃n arrested 124 suspects in a joint operation. More than 200 computers and 100 scripts were seized. The suspects were taken back to Liaoyuan in early September.
A preliminary investigation showed the ringleader, identified by the surname Zheng, set up the company in 2016 and lured graduates to join the company with promises of high pay.
They drew online investors in the name of spot trading, which turned out to be fake. The cases involved nearly 100 million yuan.
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