Beijing police bust two large fraud gangs

CNS (Beijing) -- Beijing police have cracked down on two massive gangs suspected of opening shell companies, charging exorbitant training fees and issuing fake certificates, according to local authorities on Tuesday.

On April 16, a force more than 700 strong was deployed to several locations, where they apprehended 422 suspects and confiscated fraud money amounting to over 10 million yuan.

Members of the gangs stationed in an office building in Fengtai District claimed they were an international organization that granted professional certificates to trainees.

Police are currently looking for over 1,000 of the gang's victims, which are spread across many provinces including Henan, Hebei, Jiangsu and Hubei.

A source from the police said they had started the investigation after receiving a report on March 22. A further investigation and hearing are currently underway.