Chinese scam dupes victims out of 950m yuan by preying on their national pride
Chinese police have arrested 44 suspects in the latest operation against a racket that preyed upon the victims’ national pride and desire for easy returns.
Under the scheme, victims were promised a big payout in exchange for a small fee to help “unfreeze” assets held overseas that once belonged to former dynastic rulers and the Kuomintang government, authorities said.
The criminals used WeChat and other social media platforms to tout the “Making People Rich through Charity Institute”. The victims, many of them elderly, were told a 10 yuan payment would secure membership of the institute, which was working to get the assets back.
The ministry said it had broken up 15 gangs involved in the scam, going back to October. Police in Anhui province busted one gang calling itself Julong International.
To convince their victims the assets were real, the criminals forged certificates asserting the authenticity of the ancient treasures or bought fake antiques and passed them off as authentic, Xinhua quoted officers as saying.
The authorities said few victims filed reports because the individual amounts involved were quite small.