Chinese Police Arrest 52 Singaporeans Over Alleged Pyramid Scheme
Authorities in Guangxi have detained 52 Singaporean nationals suspected of participating in a large-scale investment pyramid scheme. The crackdown targets transnational fraud operations that allegedly lured victims with false promises of high returns.
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China arrests 52 Singaporeans in Guangxi pyramid scheme crackdown
Fifty-two Singaporeans have been arrested and detained in China’s Guangxi Zhuang autonomous region following a law enforcement operation targeting suspected pyramid scheme activities and related offences, according to Singaporean authorities. Singapore’s Ministry of Foreign Affairs and the Singapore Police Force revealed the arrests in a joint statement on Friday, noting that Chinese authorities were still investigating the cases. Sim Ann, Singapore’s second minister for foreign affairs, said...
By Cao Jiaxuan
Read full article →Singaporeans lured by alleged pyramid scheme linked to investment opportunities in China
Amid a clampdown by Chinese authorities on pyramid schemes, CNA has learnt of at least a dozen Singaporeans who were approached by fellow Singaporeans over a so-called business and investment scheme in China's southern city of Nanning.
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