Land scam claims lives of 10 victims
By Yang Jian |
May 31, 2011, Tuesday
|
Print Edition
Print Edition
TEN victims of a land development scam committed suicide or died of illness triggered by the con after they and around 10,000 others were duped out of 850 million yuan (US$ 131.1 million) in total in northeast China.
Police arrested Bai Juncai, president and manager of Nanshan Co, along with more than 50 staff in connection with the fraud centered on Jilin, Liaoning and Heilongjiang provinces, reported the Caijing Magazine website yesterday.
Bai raised the cash between 2006 to 2009, mostly from people on average incomes, by claiming the money was to be used in a land development project supported by local government.
Many victims spent all their money and even sold their houses to join the scheme, the report said.
Some are known to have hanged themselves while others died from heart attacks after becoming angry and distraught at being conned, the report claimed.
Wang Liuzhen, aged 40, sold her house in 2008 to pay 960,000 yuan to Nanshan, which was offering her annual interest of up to 108 percent.
Wang said the company claimed it would use the money to build a 40-square-kilometer tourism spot, a hydro power station and a thermal power station in Lanxi County of Suihua City in Heilongjiang Province.
Bai also said the projects were supported by the government because the county was poor.
But the company failed to pay Wang interest or return the money to her.
Wang said her husband and father had always been healthy, but died from being so angry at being duped.
Then her three-year-old grandson was diagnosed with heart disease but she has no money for treatment.
"My life has gone from heaven to hell," she said.
Wang says the Lanxi County government in Suihua City should take some responsibility for what has happened.
Liu Guohui, the former director of the county often appeared alongside Nanshan officials when they were seeking money, she claimed.
Suihua police arrested Bai and 50 members of staff on July 8, 2009. No government officials had ever been arrested in connection with the case, the report said.
Police arrested Bai Juncai, president and manager of Nanshan Co, along with more than 50 staff in connection with the fraud centered on Jilin, Liaoning and Heilongjiang provinces, reported the Caijing Magazine website yesterday.
Bai raised the cash between 2006 to 2009, mostly from people on average incomes, by claiming the money was to be used in a land development project supported by local government.
Many victims spent all their money and even sold their houses to join the scheme, the report said.
Some are known to have hanged themselves while others died from heart attacks after becoming angry and distraught at being conned, the report claimed.
Wang Liuzhen, aged 40, sold her house in 2008 to pay 960,000 yuan to Nanshan, which was offering her annual interest of up to 108 percent.
Wang said the company claimed it would use the money to build a 40-square-kilometer tourism spot, a hydro power station and a thermal power station in Lanxi County of Suihua City in Heilongjiang Province.
Bai also said the projects were supported by the government because the county was poor.
But the company failed to pay Wang interest or return the money to her.
Wang said her husband and father had always been healthy, but died from being so angry at being duped.
Then her three-year-old grandson was diagnosed with heart disease but she has no money for treatment.
"My life has gone from heaven to hell," she said.
Wang says the Lanxi County government in Suihua City should take some responsibility for what has happened.
Liu Guohui, the former director of the county often appeared alongside Nanshan officials when they were seeking money, she claimed.
Suihua police arrested Bai and 50 members of staff on July 8, 2009. No government officials had ever been arrested in connection with the case, the report said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
