Chinese Fake-banksters dismantled

  In a China full of fake iPhones, pirated DVDs and knockoff Louis Vuitton bags, a rice trader

has developed a new perspective on the lie. Counterfeit bank, all of them?

In a China full of fake iPhones, pirated DVDs and knockoff Louis Vuitton bags, a rice trader has

developed a new perspective on the lie. Counterfeit bank, all of them?

Lin Chunping shot to fame in Wenzhou - a center for private companies in China - after claiming

he had the so-called Bank of America over the Atlantic.

The new earned him praise from officials and local media.

"People were shocked that the businessman who bought an obscure foreign bank, and it was an

American bank, no less. It was not even a banker to start," said Zhu Xiaochuan, CEIBS Lujiazui

researcher at the Institute of International Finance in Shanghai. "The new" must "be credible

because he was in the mainstream media. The audience was amazed at how rich businessmen from

Wenzhou were amazed."

He was later appointed to an advisory committee of the legislature of the eastern city as a

reward for the successful penetration of the U.S. banking market.

But not only did not buy BankAtlantic Lin for $ 60 million, he claimed, was determined that the

bank does not simply exist.

In a complicated system, Lin estimated tax bills issued in more than 100 million yuan (U.S. $

15.73 million) through his company on the basis of fraudulent transactions and then sold to other

companies in the country to reduce their tax burden, police said.

Lin Chunping was arrested in early June on an unrelated fraud.

-
Bull market: the widespread fraud

But does the 41-year-old from dramatic rise and fall, as the fraud is widespread in China - from

the manufacture of products for the imitation of all institutions and careers.

Last year, officers found five fake Apple stores in the southwestern city of Kunming. They were

modeled after the flagship stores of the company in the United States, the spiral stairs and

people in blue shirts.

There are other examples of fraud widespread in China. Early June, subject to the local press in

east China's Shandong Province, a fake university.

He gave to students who did not score high enough on the national college entrance examination.

They paid about 30,000 yuan ($ 4,800) over four years to attend events organized by the

Institute.

A few weeks before graduation, she learned she would not receive diplomas because they are not

officially in the school.

It turned out they were attending a training for private rents space from the institute, the

Times wrote of the state run in Jinan. Program organizers have vanished, the newspaper reported.

Experts point to many reasons for the ruthlessness of the need to be extremely competitive in a

crowded society to an old sage who condoned lying, to attain a higher purpose.

If the bank was exposed to non-existent Lin March, he announced to reporters that he had

"exaggerated" to increase his social status and attract future prospects in the banking sector.

Maybe he's finally telling the truth.