5 jailed for running underground bank
By Liang Qiwen | China Daily | Updated: 2008-10-18 08:34
GUANGZHOU: Five people who operated an illegal bank that handled billions of yuan in money transfers have been sentenced to jail, a local district court said on Friday.
The Shenzhen bank was allegedly run by To Ling, a Hong Kong woman, originally from Qingyuan city, Guangdong.
The bank had branches in Hong Kong and Guangzhou, and handled more than 4.3 billion yuan ($632 million) in money transfers between 2006 and May of last year.
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