Heroine to laid-off accused of fraud
By Jane Chen |
July 24, 2010, Saturday
|
Print Edition
Print Edition
A WOMAN who was a national heroine for laid-off workers now faces a court in central China's Hunan Province for alleged involvement in a pyramid scheme.
Chenzhou Intermediate People's Court heard that He Yuelan, 44, is accused of running an illegal sale network involving 300 million yuan (US$44 million) with 60,000 victims across the country, Xinmin Evening News reported yesterday. The hearing will continue today.
He, a former worker in a Chenzhou factory, was laid off in 1997. She started a fashion store, then expanded her business empire to a teahouse and beauty salon. Her rags to riches story was widely reported in 2002.
Prosecutors alleged that from 2006 He developed a pyramid sale network, attracting more than 60,000 sales people in 29 provinces and cities and making 335 million yuan in illegal income.
She launched the cosmetics product company France Madame Butterfly Co Ltd and asked Guangzhou Mingyu Cosmetics Factory to develop and produce its products.
She claimed the company would soon be listed to attract more salespersons and dealers whom she charged from 700 yuan to 100,000 yuan to join her sales network.
Chenzhou Intermediate People's Court heard that He Yuelan, 44, is accused of running an illegal sale network involving 300 million yuan (US$44 million) with 60,000 victims across the country, Xinmin Evening News reported yesterday. The hearing will continue today.
He, a former worker in a Chenzhou factory, was laid off in 1997. She started a fashion store, then expanded her business empire to a teahouse and beauty salon. Her rags to riches story was widely reported in 2002.
Prosecutors alleged that from 2006 He developed a pyramid sale network, attracting more than 60,000 sales people in 29 provinces and cities and making 335 million yuan in illegal income.
She launched the cosmetics product company France Madame Butterfly Co Ltd and asked Guangzhou Mingyu Cosmetics Factory to develop and produce its products.
She claimed the company would soon be listed to attract more salespersons and dealers whom she charged from 700 yuan to 100,000 yuan to join her sales network.
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