5 on trial for 'fundraising'

SHANGHAI: A gang of alleged swindlers raised 850 million yuan ($124 million) illegally in the past 10 years, causing a loss of 160 million yuan to 165 people, Shanghai No 1 Intermediate People's Court was told yesterday.

Though the prime suspect is still at large, five accused, who stood trial yesterday, claimed they were "unaware" of the fraud.

Fu Xiuchun, 56, one of the accused, said in court that her brother-in-law, Chen Lihan, approached her in 1997 and told her that he had invested in a taxi firm and was making good money.