Pyramid sales probe detains more suspects
Print Edition
Four key members of Shanxinhui, a company suspected of organizing and leading a pyramid scheme, have been detained by police in south China’s Hainan Province.
Shanxinhui is alleged to have persuaded people to take part in pyramid selling and cheated them out of huge amounts of property under the guise of helping the poor.
Several suspects, including the alleged mastermind Zhang Tianming, have been put under coercive measures, which may include summons by force, bail, residential surveillance, detention or arrest.
Zhang, 42, founded Shenzhen Shanxinhui Culture Communication Co Ltd in south China’s Shenzhen in May 2013, and Hainan Shanxinhui in May 2016.
In July, police in Guangdong Province seized 230 members of Shanxinhui. Beijing police also arrested 63 others after members gathered in the capital.
Pyramid schemes have been expanding widely in China through social networks in recent years.
Police investigated 2,826 pyramid scheme cases in 2016, 19.1 percent more than that in 2015, according to the Ministry of Public Security.
From 2005 to 2015, 21,904 pyramid schemes were investigated and a total of 990 million yuan (US$140 million) confiscated.
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