Arrests in China Potato Starch Production Scam

Police in southwestern Sichuan province arrested three people who bilked 92 million yuan (£9.13 million/13.4 million USD) from more than 1,600 people in a potato starch production scam.

The three set up a company promising returns of more than 23 percent, telling investors the firm had great promise in the starch production sector, Xinhua news agency said.

But virtually all the money went into the bank accounts of the three who had set up the fraudulent company, it added.