Police in Suining County, central China's Hunan Province, have arrested 34 suspects over a telecom fraud and froze more than 31 million yuan (about 4.5 million U.S. dollars).
In early June, a victim reported to the local police that they had been cheated out of almost 100,000 yuan in a virtual stock trade platform. Police quickly locked the account and froze the money.
After a thorough investigation, the police detained the suspects in Chongqing and Foshan respectively.
Police said the scammers approached the victims in the name of recommending instructors on stock investment. After gaining their trust, they then asked them to invest in fake platforms. The total amount of money involved is estimated to reach 100 million yuan.
Further investigation is underway.
