Chinese fake bank founders jailed for swindling

A court in the Chinese city of Nanjing has jailed two men for swindling customers of their savings through a fake bank, state media report, according to BBC.

The men, surnamed Zeng and He, were found guilty of pocketing 435m yuan (£51m; $63m) from some 400 customers.

The sentences were upheld at a second trial, said the People's Daily, and the men have been jailed for nine and nine-and-a-half years respectively.

The facility, actually a co-operative, resembled a state-owned bank inside.

It had tellers' windows, uniformed clerks, and even similar deposit slips.

But while it had some legitimacy as a rural co-operative, it did not have the necessary permits to operate as a bank

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