Trail of Risky Investments in China – Mark Magnier

The Los Angeles Times takes a closer look at the victims in the Yilishen ant-farming scam:

The story of Yilishen illustrates the get-rich-now mentality here, the constant search for a new angle by those struggling to make a go of it with the communist economy having all but given way to private enterprise, and the frequent collusion of government officials in shady dealings.

Old rules of caution don’t carry much weight in a society that has seen some become absurdly wealthy, seemingly overnight. And government officials often are first in line to fleece the laobaixing, or common folk.

Instead of siding with Yilishen’s victims — mostly poor farmers, construction workers and the unemployed — the government has blocked Internet postings and ordered reporters off the story, ant farmers say. Attorneys in the nation’s capital have been discouraged from representing any of them, according to the website of the Beijing Municipal Lawyers Assn. [Full Text]



See also “Ants and pyramids: China scams abound,” about the phenomenon of scamming in China, from Asia Times.

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.