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Greed

  • With Zhang Jian now escorted back to China to face legal actions, perhaps it's time for wuxingbi investors here to wake up from their dreams.

By POOK AH LEK
Sin Chew Daily

Zhang Jian, founder of money game scheme YSLM and the self proclaimed "future richest man of the world", was arrested in Indonesia, finally.

Zhang has enjoyed a demi-god status among his followers ever since he first started the business. He was uplifted as an ultra-smart man who went to the university at the age of nine and decoded bank passwords at 12. He was also said to be well versed in six languages.

As a matter of fact, he is no better than a master con-man.

Zhang is well known in Malaysia, and the YSLM that made a landfall in this country three years ago almost turned the country upside down.

In the pretext of charity, he and his team made generous donations to local Chinese primary schools and independent high schools to win the hearts of the public and for their own publicity. He once offered RM350,000 to a single Chinese primary school in Negeri Sembilan.

Zhang and his team recently brought wuxingbi into Malaysia, and in the name of Zhang Jian Jewelry continued with its donating spree that subsequently triggered the controversial question whether his donation should be accepted by independent Chinese high schools in the country.

After his release from a Phuket prison, Zhang went on with his usual tactic of bribing government officials and counterfeiting identification documents to move around Southeast Asia. That nevertheless would not stop him from running his money game business by manipulating the wuxingbi scam through WeChat, smartphone and the Internet while himself staying largely out of public view.

His YSLM has sucked up 600 million yuan of public funds in China, while his wuxingbi is actually another virtual currency operating on a people-get-people model.

He knew how to command public attention, spending 30,000 yuan each on young women to get them shave their heads and promote wuxingbi at various functions and events. He even invited the wrath of Wu Tai Shan in China for organizing a "nun wedding party".

He promised anyone purchasing a 5,000-yuan wuxingbi to bag in 4 million yuan of returns within a year. The unimaginable 800-fold returns were way higher than what recently collapsed money game schemes could think of offering their investors. Unfortunately, many have chosen to believe in him, especially in China.

Even as money game has become so rampant in this country, our enforcement authorities appear to be always a few steps slower in their actions.

Extensive coverage on Sin Chew Daily has doubtlessly killed the get-rich dreams of many avid investors. These scammers are never short of cash, and are always ready to hire well known legal firms to send us lawyer letters in an attempt to gag the media.

With Zhang Jian now escorted back to China to face legal actions, perhaps it is time for wuxingbi investors here to wake up from their dreams.

 

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