Antique dealer arrested over US$1.2 million scam in Shanghai
Some fake antiques that Wang allegedly sold to Li.
A suspect surnamed Wang has been arrested by Shanghai police for allegedly selling fake antiques and defrauding a consumer out of more than 9 million yuan (US$1.2 million). The full amount has been returned to the victim, and the case remains under investigation.
Officers began their investigation in July 2021 when Xinzhuang Police Station in Shanghai's Minhang District received a report from a woman who suspected her mother had been swindled after purchasing what she believed to be valuable antiques.
The victim's daughter, who was living abroad, explained that her mother surnamed Li came from a family of collectors and had recently rekindled her interest in antiques to cope with loneliness.
Li's home is filled with fake antiques purchased from Wang.
In 2012, Li met Wang at a cultural exchange event. Between September 2020 and June 2021, police said she spent over US$1.2 million on more than 1,000 pieces from him.
The scam came to light when the daughter had several items appraised and discovered many were fakes.
Wang initially denied they were fakes and insisted the remaining pieces were genuine. So he refused to refund any money, stating that transactions for antiques are always final.
His arguments proved persuasive enough for Li to believe him, police said. But after more items were confirmed to be counterfeits by late 2023, she turned over chat records to the police.
The chats revealed Wang's deliberate involvement in the scam, including messages like, "Don't take the pictures too clearly, I still need to make them look old" and a supplier warning Wang, "Don't be too greedy." Police said this evidence confirmed Wang's intent to defraud, which led to his arrest.
