Fraud ring with 8 Taiwanese members busted in China: report

Focus Taiwan
Date: 2018/01/13
By: Shine Chen and Ko Lin

Taipei, Jan. 13 (CNA) Chinese authorities recently smashed a telecommunication fraud

Image taken from Pixabay

ring led by Taiwanese, which is believed to have defrauded 28.33 million yuan (US$4.38 million) from victims, according to a Chinese news report on Saturday.

A total of 14 people, including eight from Taiwan, were arrested by police across China between July and October last year, a China Central Television (CCTV) report said.

They also froze 33 million yuan in 320 bank accounts allegedly set up by the ring to launder the proceeds of its criminal activities in China and Taiwan.

About 4.72 million yuan of the stolen money has so far been traced to specific victims.

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