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36 sentenced for pyramid scheme in Hubei Province
By Wang Qingchu |
September 27, 2011, Tuesday
|
Online Edition
Online Edition
THIRTY-SIX people received jail terms from one year to 15 years for running a pyramid scheme involving 360 million yuan (US$56.27 million) in central China's Hubei Province.
They were convicted of illegal business operation, organizing pyramid scheme and illegal confinement by the Intermediate People's Court of Xiaogan City, the Hubei Daily reported today.
The scheme came to light after a man named Yu Tianbang jumped to death as he tried to escape confinement and forced pyramid scheme activities. Yu was tricked into the scheme by his girlfriend surnamed Wang, the report said.
Police arrested eight ring members who were responsible for Yu's death, detained 80 other suspects and freed more than 200 people who were trapped in the scam.
Huang Wenguang, the ring leader, used his company as a cover for illegal pyramid scheme. Their network covered Henan, Hubei, Hunan and Shaanxi provinces and Guangxi Zhuang Autonomous Region, involving 130,000 people and 360 million yuan.
They were convicted of illegal business operation, organizing pyramid scheme and illegal confinement by the Intermediate People's Court of Xiaogan City, the Hubei Daily reported today.
The scheme came to light after a man named Yu Tianbang jumped to death as he tried to escape confinement and forced pyramid scheme activities. Yu was tricked into the scheme by his girlfriend surnamed Wang, the report said.
Police arrested eight ring members who were responsible for Yu's death, detained 80 other suspects and freed more than 200 people who were trapped in the scam.
Huang Wenguang, the ring leader, used his company as a cover for illegal pyramid scheme. Their network covered Henan, Hubei, Hunan and Shaanxi provinces and Guangxi Zhuang Autonomous Region, involving 130,000 people and 360 million yuan.
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