Chinese police crack 933 pyramid scheme cases in H1

BEIJING - Chinese police solved 933 pyramid scheme cases involving a total of 4.15 billion yuan ($626 million) in the first half of 2016, the Ministry of Public Security (MPS) said Thursday.

From January to June, police across the country raided 6,324 pyramid scheme operation sites and apprehended 1,210 suspects, according to the MPS.

Police have noticed a high incidence of major pyramid schemes, which often use new methods and spread quickly, the MPS said.

Internet-based schemes continue to emerge and are often connected with other crimes such as illegal fundraising, the ministry said, adding it will launch crackdowns on such schemes in collaboration with concerned agencies.