Court hears case against pyramid marketing company
chinadaily.com.cn | Updated: 2013-06-18 20:40
A trial concerning the alleged largest online pyramid scheme in China opened on Tuesday in Jinhua city, Zhejiang province.
Fifteen executives of a marketing company are facing charges concerning the scheme that allegedly promised participants quick and easy profits but actually paid investors with money from new investors.
The company, which started in 2010, allegedly attracted almost 2 million members nationwide under false pretenses with promises of high profits and low investments. The pyramid allegedly attracted more than 24 billion yuan ($3.9 billion).
