Reported about 1 year ago
Victims of the Lingyun investment scandal, involving over 18.2 billion RMB and affecting thousands of people, have formed a creditors' association to seek justice. They accuse Guobao Group's Fu Zuo of colluding with Lingyun to drain their funds by purchasing tower spaces using inflated prices and acquiring a 25 billion RMB debt from Lingyun. The victims express despair over recent court judgments and call on the government to address the 182 billion RMB scam. The scandal dates back to a decade ago, with Lingyun enticing investors with high returns on cemetery investments. Click to read more on this financial case.
Source: YAHOO