Gold-trading ring took in billions
<p><span word="Download">Download</span></p><p><span word="Police">Police</span> <span word="in">in</span> <span word="Central">Central</span> <span word="China">China</span>'<span word="s">s</span> <span word="Henan">Henan</span> <span word="province">province</span> <span word="rounded">rounded</span> <span word="up">up</span> 33 <span word="people">people</span> <span word="suspected">suspected</span> <span word="of">of</span> <span word="illegal">illegal</span> <span word="gold">gold</span>-<span word="futures">futures</span> <span word="trading">trading</span> <span word="in">in</span> <span word="a">a</span> <span word="case">case</span> <span word="involving">involving</span> <span word="more">more</span> <span word="than">than</span> 5,000 <span word="investors">investors</span> <span word="and">and</span> <span word="at">at</span> <span word="least">least</span> 380 <span word="billion">billion</span> <span word="yuan">yuan</span> ($59.62 <span word="billion">billion</span>).</p><p><span word="The">The</span> <span word="suspects">suspects</span>, <span word="who">who</span> <span word="had">had</span> <span word="been">been</span> <span word="trading">trading</span> <span word="since">since</span> <span word="October">October</span> 2008, <span word="had">had</span> <span word="never">never</span> <span word="registered">registered</span> <span word="with">with</span> <span word="industrial">industrial</span> <span word="and">and</span> <span word="commercial">commercial</span> <span word="authorities">authorities</span>, <span word="as">as</span> <span word="required">required</span> <span word="by">by</span> <span word="the">the</span> <span word="law">law</span>, <span word="said">said</span> <span word="Guo">Guo</span> <span word="Congbin">Congbin</span>, <span word="director">director</span> <span word="of">of</span> <span word="Luoyang">Luoyang</span> <span word="public">public</span> <span word="security">security</span> <span word="bureau">bureau</span>, <span word="on">on</span> <span word="Tuesday">Tuesday</span>.</p><p><span word="They">They</span> <span word="promoted">promoted</span> <span word="investments">investments</span> <span word="in">in</span> <span word="Loco">Loco</span> <span word="London">London</span> <span word="gold">gold</span>, <span word="the">the</span> <span word="London">London</span> <span word="gold">gold</span> <span word="market">market</span> <span word="in">in</span> <span word="Hong">Hong</span> <span word="Kong">Kong</span>, <span word="Guo">Guo</span> <span word="said">said</span>, <span word="which">which</span> <span word="is">is</span> <span word="illegal">illegal</span> <span word="on">on</span> <span word="the">the</span> <span word="mainland">mainland</span>.</p><p><span word="According">According</span> <span word="to">to</span> <span word="Guo">Guo</span>, <span word="the">the</span> <span word="suspects">suspects</span> <span word="claimed">claimed</span> <span word="to">to</span> <span word="be">be</span> <span word="agents">agents</span> <span word="of">of</span> <span word="overseas">overseas</span> <span word="companies">companies</span> <span word="dealing">dealing</span> <span word="in">in</span> <span word="London">London</span> <span word="gold">gold</span> <span word="and">and</span>, <span word="with">with</span> <span word="promises">promises</span> <span word="of">of</span> <span word="huge">huge</span> <span word="returns">returns</span>, <span word="persuaded">persuaded</span> <span word="investors">investors</span> <span word="to">to</span> <span word="establish">establish</span> <span word="accounts">accounts</span> <span word="on">on</span> <span word="the">the</span> <span word="Internet">Internet</span> <span word="for">for</span> <span word="trading">trading</span> <span word="Loco">Loco</span> <span word="London">London</span> <span word="gold">gold</span>.</p><p><span word="They">They</span> <span word="did">did</span> <span word="not">not</span> <span word="inform">inform</span> <span word="investors">investors</span> <span word="of">of</span> <span word="the">the</span> <span word="risks">risks</span> <span word="of">of</span> <span word="transactions">transactions</span> <span word="or">or</span> <span word="sign">sign</span> <span word="detailed">detailed</span> <span word="contracts">contracts</span> <span word="with">with</span> <span word="them">them</span>, <span word="and">and</span> <span word="they">they</span> <span word="charged">charged</span> <span word="exorbitant">exorbitant</span> <span word="consulting">consulting</span> <span word="fees">fees</span> <span word="for">for</span> <span word="the">the</span> <span word="deals">deals</span>, <span word="he">he</span> <span word="said">said</span>.</p><p><span word="An">An</span> <span word="investor">investor</span> <span word="named">named</span> <span word="Ye">Ye</span> <span word="told">told</span> <span word="police">police</span> <span word="that">that</span> <span word="he">he</span> <span word="lost">lost</span> 2.8 <span word="million">million</span> <span word="yuan">yuan</span> <span word="shortly">shortly</span> <span word="after">after</span> <span word="becoming">becoming</span> <span word="involved">involved</span> <span word="in">in</span> <span word="the">the</span> <span word="trading">trading</span> <span word="in">in</span> <span word="April">April</span> 2010 <span word="under">under</span> <span word="the">the</span> <span word="guidance">guidance</span> <span word="of">of</span> <span word="a">a</span> <span word="suspect">suspect</span> <span word="named">named</span> <span word="Wang">Wang</span>, <span word="the">the</span> <span word="Luoyang">Luoyang</span> <span word="public">public</span> <span word="security">security</span> <span word="bureau">bureau</span> <span word="said">said</span> <span word="in">in</span> <span word="a">a</span> <span word="statement">statement</span> <span word="on">on</span> <span word="its">its</span> <span word="micro">micro</span> <span word="blog">blog</span> <span word="on">on</span> <span word="Tuesday">Tuesday</span>.</p><p><span word="Ye">Ye</span> <span word="deposited">deposited</span> <span word="money">money</span> <span word="into">into</span> <span word="several">several</span> <span word="of">of</span> <span word="the">the</span> <span word="suspects">suspects</span>' <span word="private">private</span> <span word="bank">bank</span> <span word="accounts">accounts</span>, <span word="as">as</span> <span word="instructed">instructed</span> <span word="by">by</span> <span word="Wang">Wang</span>, <span word="the">the</span> <span word="statement">statement</span> <span word="said">said</span>.</p><p><span word="The">The</span> <span word="police">police</span> <span word="found">found</span> <span word="large">large</span> <span word="amounts">amounts</span> <span word="of">of</span> <span word="money">money</span> <span word="from">from</span> <span word="the">the</span> <span word="trading">trading</span> <span word="in">in</span> <span word="bank">bank</span> <span word="accounts">accounts</span> <span word="the">the</span> <span word="suspects">suspects</span> <span word="opened">opened</span> <span word="in">in</span> <span word="Shanghai">Shanghai</span>'<span word="s">s</span> <span word="Pudong">Pudong</span> <span word="New">New</span> <span word="Area">Area</span>, <span word="the">the</span> <span word="statement">statement</span> <span word="said">said</span>.</p>
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