SHANGHAI (Reuters) - China's police have arrested 44 people over a scam which saw many as 93,000 people contribute start-up capital to "unfreeze" assets smuggled overseas when the Nationalist government was overthrown in 1949, police authorities said late on Thursday.
The criminal network used Wechat and other communication tools to encourage people to pay 10 yuan (1.13 pounds) for membership in a scheme which promised returns of as much as 50,000 yuan (5,640.35 pounds) once the assets were unfrozen, the Ministry of Public Security said in a notice on its website (http://www.mps.gov.cn).
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