Justice comes to pyramid scammers who cheated 23,000 victims

The Beijing News
March 24, 2009

Former executives and senior employees of the Yilin Wood Company stood trial on fraud charges yesterday in Beijing’s Second Intermediate Court. The company solicited private investment in the amount of 1.68 billion yuan and promised investors lucrative returns from a purported tree planting project that was actually a pyramid scheme.

A total of 28 defendants, including the company’s former president Zhao Pengyun, were found guilty by the court. Zhao was sentenced to 15 years in prison and a 300-million-yuan fine.

The big photo on the front page of The Beijing News shows victims surrounding the entrance to the court. According to the article, the scheme involved over 23 thousand victims, 17 thousand of them from Beijing.

The headline in the box on the lower right announces newly-released details concerning a murder case that took place in Chongqing on May 19. A PLA soldier guarding a military base was shot dead and his was rifle stolen. According to the article, a witness said he saw the perpetrator take a taxi about 300 meters away from the scene.

In the sidebar, a headline reports that three young people were found in the crew rest area of flight CA981, which was scheduled to fly from Beijing to New York. The three confessed that they were seeking to enter the United States illegally.

The incident delayed the flight for about two hours. The article mentioned that the three stowaways are suspected of having a contact on the inside: someone with the airline or the airport who gave them information and access.

Links and Sources
This entry was posted in Front Page of the Day and tagged , , , . Bookmark the permalink.