China Jails 24 Over $2 Billion Financial Fraud

From China Spectator

A court in southern China has jailed 24 people for fraudulently raising nearly 10 billion yuan ($A2.10 billion) in one of the country's biggest financial scams, the official Xinhua news agency says.

The group was convicted of illegally raising funds during the decade to 2012 from more than 230,000 investors, mainly senior citizens who put in their life savings, it said, citing the court.

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