Pyramid Schemes Cause Huge Social Harm in China

Economist
The authorities call them “business cults”. Tens of millions of people are ensnared in these pyramid schemes that use cult-like techniques to brainwash their targets and bilk them out of their money.

Pyramid Schemes Cause Huge Social Harm in China

The authorities call them “business cults”. Tens of millions of people are ensnared in these pyramid schemes that use cult-like techniques to brainwash their targets and bilk them out of their money.

High-Level US-China Talks Focus on Immigration, Fugitives

Nike Ching
Voice of America
Shilan Zhao, former wife of fugitive Chinese official Jianjun Qiao, pleaded guilty earlier this year to charges by the U.S. government of conspiring to commit immigration fraud related to the EB5 “investor” visa program.

Why Ponzi Schemes Are Thriving in China Despite Crackdowns

Frank Tang
South China Morning Post
The financial naivety of the public and a collective desire for unfeasibly high returns have helped fuel the proliferation of fraudulent investment schemes in China, according to an academic.

Fraud Case, Holiday Dispute Further Divide Old Rivals China, Taiwan

Ralph Jennings
Voice of America
Relations between old rivals China and Taiwan have been shaken again over a foreign extradition case and Beijing’s re-interpretation of a Taiwanese political holiday, stalling any prospects for dialogue or cooperation.

China Rights Lawyer Xia Lin Jailed for 12 Years

BBC
Ai Weiwei's lawyer sentenced for 'fraud'...

Taiwanese Scam Suspects in Cambodia to be Expelled to China

Asahi Shimbun
Rights activists and Taiwan say the plan reflects the great influence Beijing exercises over Cambodia through aid and investment.

The Long Arm of Chinese Law Reaches All the Way to Kenya

Eric Olander & Cobus van Staden
The Kenyan government’s consent to a Chinese request for the deportation of dozens of alleged cyber and telecom fraud has now bloomed into a full-scale diplomatic crisis. Among those forcibly sent to China included dozens of Taiwan nationals, many...

Caixin Media

04.18.16

Chinese Electric Vehicle Manufacturer BYD’s Image Hurt by Scandal Involving Dealer’s Suicide

China’s largest electric vehicle manufacturer, BYD Auto Co., is under intense scrutiny following the death of a Nanjing auto dealer who accused the company of bilking a government subsidy program and a Caixin probe suggesting the charge may have...

China Detains an American Who Assists North Koreans

Jane Perlez
New York Times
The aid worker, Peter Hahn, who is 73 and escaped from the North many years ago, is suspected of embezzlement and possession of fraudulent receipts, said the lawyer, Zhang Peihong.

Environment

11.07.14

China’s EIA Industry Rife with Fraud

from chinadialogue
A farce played out at an environmental impact assessment (EIA) firm in the southern city of Shenzhen when inspectors called round in early October, this year.The firm had applied to renew its license to carry out EIAs—reports that are supposed to...

Troubles in China Rattle Western Banks

Enda Curran
Wall Street Journal
Foreign lenders in China have been stung by a string of suspected fraud cases and problem loans in the country as Beijing investigates company executives and seizes assets in a crackdown on corruption.

China Uncovers $10bn Fake Trades

BBC
China has uncovered $10bn worth of fake trades as part of a nationwide crackdown on companies. The nation's currency regulator said 15 fraud cases had been handed over to the police for prosecution...

Caixin Media

01.07.14

Chinese Firm Linked to CNPC Suspected of Fraud in Iraq

Just after the December 29 celebration of the Muslim holiday Ashura in southern Iraq, heads of the Iraqi subsidiary of China National Offshore Oil Corp. (CNOOC) received a letter titled “Suspending all activities of Hermic.”The sender of the letter...

Struggling Immigrant Artist Tied to $80 Million New York Fraud

Sarah Maslin Nir, Patricia Cohen and...
New York Times
Pei-Shen Qian, a quiet 73-year-old immigrant from China, is suspected of having fooled the art world by creating dozens of works that were modeled after America’s Modernist masters and later sold as their handiwork for more than $80 million.&...

Sinica Podcast

02.21.13

Death, Fraud, and Corporate Skullduggery

Kaiser Kuo & Bill Bishop from Sinica Podcast
This week on Sinica, we talk shop about Caterpillar’s discovery of massive accounting fraud and subsequent $580 million write-down from a Chinese company the American equipment manufacturer acquired. We also look at the mysterious death of an...

Caixin Media

01.19.13

Shandong’s Slippery Gutter Oil Man

It’s oil with an extra something, but there’s nothing virgin about it. Pumped from sewers outside restaurants and drained from dumpsters, it’s cooking oil born from waste both human and mechanical.Known in China as “gutter oil,” it’s commonly used...

Caixin Media

12.07.12

Who Pays When a Wealth Product Fails?

A crowd of angry investors packed a Shanghai branch of Huaxia Bank on December 3 after they heard that the money wasn’t there for the first of four repayments for a 119 million-yuan wealth management plan. They demanded their money back from Huaxia...

Chinese Parents Defrauded by “Perfect” Education

Tania Branigan
Guardian
For ambitious Chinese parents, the opportunity was too good to miss – even with its 100,000 yuan (£9,950) price tag. Their children would learn to read books in just 20 seconds and identify poker cards by touch. The most talented would instantly see...

China's $13 Billion Art Fraud

Abigail R. Esman
Forbes
If you pay attention either to China or the art market, you’ve probably heard the story: China last year became – according to art industry experts – the world’s largest market for art and antiques, surpassing the USA. Well, here’s a shocker: it isn...

Caixin Media

05.25.12

Hard Lesson for China Concept-Stock Investors

Imagine discovering on your first day as a new CEO that your employer is merely a shell that may be destined for a shameful delisting on the Nasdaq Stock Market.That’s what happened recently to ChinaCast Education Corp. CEO Feng Yiyi, who is now...