Nanjing - fake bank cheated 200 million RMB!!! It's unbelievable !!!

[BoQ77]

Fake Chinese bank cheats huge deposit

English.news.cn 2015-01-23 18:11:14

NANJING, Jan. 23 (Xinhua) -- A rural cooperative posing as a bank cheated 200 million yuan (32 mln U.S. dollars) from unwitting depositors in an eastern Chinese city, local police said.


The fake bank ensnared more than 200 customers over the past year with promise of higher interest rates.

The scheme was unraveled only after a customer was denied withdraw of his money and reported it to the police, according to police in Nanjing, capital of Jiangsu Province.

Police say the cooperative has decorated itself exactly the same as a bank, with LED screens, a queuing machine and uniformed clerks. It also faked documents to prove itself as an authorized financial institute.

One legal representative cooperative and four "managers" have been detained on suspicion of illegally absorbing public money.

Most victims were businessmen from neighboring Zhejiang Province. Police are still seeking victims of the scam.

 

[third eye]

This is the most common trap hard working people fall into - higher interest & quick doubling of money.

A lot of people have lost hard earned money to such ponzi schemes.

Feel sorry for those who have lost so much.

 

[Edison Chen]

What a shame. But this is nothing, there was once a fake military department.

 

[Cossack25A1]

What's with these bankers today? Is Ponzi scheme now a requirement for banks?

 

[biendong]

This world is ruled by money.

 

[scherz]

 

[AgentOrange]

Fake Chinese bank cheats huge deposit

English.news.cn 2015-01-23 18:11:14

NANJING, Jan. 23 (Xinhua) -- A rural cooperative posing as a bank cheated 200 million yuan (32 mln U.S. dollars) from unwitting depositors in an eastern Chinese city, local police said.


The fake bank ensnared more than 200 customers over the past year with promise of higher interest rates.

The scheme was unraveled only after a customer was denied withdraw of his money and reported it to the police, according to police in Nanjing, capital of Jiangsu Province.

Police say the cooperative has decorated itself exactly the same as a bank, with LED screens, a queuing machine and uniformed clerks. It also faked documents to prove itself as an authorized financial institute.

One legal representative cooperative and four "managers" have been detained on suspicion of illegally absorbing public money.

Most victims were businessmen from neighboring Zhejiang Province. Police are still seeking victims of the scam.

But seriously...bullet to the head for these scumbags.

 

[Keel]

Zero tolerance on those criminals who cheated tons of money out of the innocent folks

How about these cases which happened in USA not too long ago and many others from all across many developed countries?

Madoff investment scandal - Wikipedia, the free encyclopedia
List of Ponzi schemes - Wikipedia, the free encyclopedia

 

[Edison Chen]

Those who believe this is a bank need to improve his IQ.

 

[Guynextdoor2]

What a shame. But this is nothing, there was once a fake military department.

WTF man? How? They had a fake army base with fake equipment and stuff?

 

[Edison Chen]

WTF man? How? They had a fake army base with fake equipment and stuff?

For business purpose, so no army base and other stuff. But they have a fake government building with a similar name sounds like the real ones, fake "official seals", PLA uniforms. They did this to cheat money from construction contractors who want to get permit to develop real estate. They use national defence construction program as a bait to attract investment.

 

[Guynextdoor2]

For business purpose, so no army base and other stuff. But they have a fake government building with a similar name sounds like the real ones, fake "official seals", PLA uniforms. They did this to cheat money from construction contractors who want to get permit to develop real estate. They use national defence construction program as a bait to attract investment.

So the guys did go to great lengths to pull that one off.

 

[The_magnificent]

View attachment 188068

Those who believe this is a bank need to improve his IQ.

what does that say ?

 

[Edison Chen]

what does that say ?

The name. As Chinese, we can easily judge from the name of the "bank" that it is fake.

 

[The_magnificent]

The name. As Chinese, we can easily judge from the name of the "bank" that it is fake.

May be people of village, those farmers are not that smart like Guys who lived a city life. I will blame Frauds as well as Govt. for not keeping check over this.