Burmese Among Victims of Massive Jade Scam in China . By ECHO HUI / THE IRRAWADDY| Friday, August 8, 2014 irrawaddy.org/burma/burmese-among-victims-massive-jade-scam-china.html ---------------------------------------------------------------------- HONG KONG — Hundreds of people, including Burmese jade dealers, have seen their fortunes vanish in a scam described as the biggest jade fraud case in the history of the People’s Republic of China, police in the country’s southwest have revealed. . Up to 1 billion yuan (US$160 million) worth of jade treasures were taken by a 33-year-old Chinese conman named Zhong Xiong over the past few months, according to Chinese police’s preliminary investigation. . Zhong is said to have told victims that he knew wealthy clients in Shanghai and Beijing who wanted artifacts made from the highest quality jade. But after collecting the jade items, Zhong disappeared without paying for them, the Oriental Morning Post reported. . According to police, Zhong presented himself as a man of immense wealth, living an extravagant lifestyle and driving flashy cars. By wining and dining other gems dealers, he quickly befriended local merchants. . Sixty-seven victims had reported the scam to police by April. Zhong was arrested in May and is currently being held by authorities, awaiting trial. . Police have not yet disclosed a specific total value for the stolen goods, saying only that the amount is “huge.” Reports have said the number could be north of 1 billion yuan. It is also unclear how many dealers from Burma were roped into the scam. .....................
Posted on: Fri, 08 Aug 2014 01:47:38 +0000
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