Pyramid scheme ringleaders to face trial

Twelve members of Shanxinhui, a company suspected of organizing and leading a pyramid scheme, will go on trial, according to Songjiang District prosecutors.

Twelve members of Shanxinhui, a company suspected of organizing and leading a pyramid scheme, will go on trial, according to Songjiang District prosecutors.

The 12 are accused of making large gains by persuading more than 11,000 people to take part in a pyramid scheme between May 2016 and June 2017. The total amount was not revealed.

The alleged ringleader, Zhang Tianming, is said to have gathered more than 5 million members across the country, under the guise of helping the poor, since May 2016. He is alleged to have illegally profited more than 2.2 billion yuan (US$350 million), according to prosecutors of Yongzhou City, Hunan Province.

According to media reports, hundreds of suspects have been netted across the country.


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