Mastermind behind 100 billion yuan pyramid scheme gets 17 years in jail

Zhang Tianming, the mastermind behind a pyramid scheme involving more than 100 billion yuan ($14.5 billion), was sentenced to 17 years in prison and fined 100 million yuan at a court in Yongzhou, Hunan province, on Friday.

Nine other people received jail terms ranging from six months to 10 years plus fines for organizing and leading pyramid schemes, and their illegal gains were confiscated, according to the verdict from in the Shuangpai County People's Court.

More than 5.98 million people nationwide participated in the scheme, with a total 104 billion yuan involved, the verdict said.