Experts: Beware of promised huge returns

As lending company Huayingkailai Asset Management Co Ltd, the major investor in the transit elevated bus project, is suspected of illegal fundraising amid the suspension of the high-profile project, experts are raising concerns over fraudsters luring unsuspecting investors with false promises of huge returns from innovative and entrepreneurial projects.

The company, a subordinate of Huaying Group, turned out to be a peer-to-peer financial management company illegally collecting funds for a project supposedly aimed at solving traffic congestion.

The TEB is a double-decker bus that holds up to 300 passengers on its upper level and allows vehicles of a height of less than two meters to run below it.