Police seize $55m cash in pyramid scheme

SHENYANG - Police in Liaoning province have seized 364 million yuan ($55 million) in cash from a pyramid scheme operator and detained 24 suspects.

The scheme spanned 25 provinces, autonomous regions and municipalities, said Deng Wanhong, deputy director of the public security bureau in Shenyang, Liaoning province, on Tuesday.

Police said they received a tip in mid-September that led to an investigation. It found that nearly 100,000 investors had been swindled out of about 600 million yuan.