"We Only Scam Foreigners": Group Arrested in Central China
The Internet Police from Xiangzhou District PSB in Xiangyang, Central China's Hubei Province, discovered unusual Internet traffic at a residential complex during their routine Internet traffic patrol recently.
The Internet Safety Brigade of Xiangzhou District PSB and the Criminal Police Brigade conducted a raid at the house and arrested 5 people.
Two of the suspects, Mr. Hong and Guo, told the police that they got the idea of swindling foreigners in February 2023, believing that they would never get caught because the victims wouldn't be able to travel to China or report to the police.
The two put together 100,000 yuan and bought computers, mobile phones, overseas sim cards and other items used for fraud. They also employed Mr. Lv, Jiao, and Chen for the job.
Guo was responsible for publishing ads on Facebook to attract foreigners to invest in their virtual currency investment platform (which was built and controlled by them.)
Lv, Chen and Hong were playing the role of successful customers to lure victims to buy and sell virtual currency on the platform.
At the house, the police also found USD 20,000 in cash, evidence of a business turnover of up to USD 500,000, chat scripts, instructions on the division of work, clear instructions on promotions and exchange rates, etc.
The group began the scam by building up a character on Facebook, which is a successful, beautiful, female investment analyst. After gaining the trust of her followers, "she" would lure them to invest in virtual currency on the platform that the group controls.
After the victim buys virtual currency from the platform, the currency's value would quickly plummet and leave the victim with a worthless investment, while the group has already pocketed the hard currency provided by the victim.
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