23 December 2008 - The Chinese police in the southwestern Sichuan province have arrested three people who bilked 92 million yuan (about USD 13.43 million) from more than 1,600 people in a potato starch production scam, state media said today.
The three reportedly set up a company promising returns of more than 23% telling investors the firm had great promise in the starch production sector.
But virtually all the money went into the bank accounts of the three who had set up the fraudulent company, the state media added.