A total of 51 suspects are being held over a telecom fraud case that involved over 300 victims across the country, police in Shanxi province said yesterday.
The gang registered a company in the eastern province of Anhui and tried to trick citizens into investing in a gold business via online platforms or telephone between March and September, said police in Taiyuan, the Shanxi provincial capital.
More than 300 citizens in 18 provinces or cities were cheated out of more than 10 million yuan ($1.6 million) in the case.
Police are still searching for one suspect who’s on the run, according to the report.
Telecom-based fraud has become an increasingly popular way for crooks to cheat money out of unsuspecting (and sometimes slightly ignorant) victims. One such victim was famous Chinese actress Tang Wei, who was reportedly swindled out of 210,000 yuan earlier this year by Shanghai telecom fraudsters.
Police warned expats and gold-collar workers in China to be especially cautious following several reports of telecom-related scams. In November last year, two Shanghai expats were cheated out of 24 million yuan, the largest amount of money reported in such a case in the city’s recent history.