Ghost Bank

Photo credit: Livetradingnews.com

China is one of the oldest cultures in the world.

The food is dee-lish, the Great Wall of China is…Great (you can spot that sucker from space!)

It’s also the land where they could give a flying fuck about your stinking copyright laws— and where they have some impressive scams going. Like that of the fake Army Officers who walk around the country taking bribes like it’s the Middle Ages, or that of a rice trader who claimed that he’d bought an American Bank that did not exist. And who can forget the fake Apple store, or the fake Ikea store that popped up out of the ether?

You want a fake-ass Rolex watch for your uncle’s birth day?  How about a Gucci bag for aunt Gilda? Or any other fancy brand du jour, you want it? China’s got a fake one for ya.

The City: Linyi

The Perp: a man with the surname of Zhang

The Mark: China Construction Bank.

Mr. Zhang opened a branch of the China Construction Bank in the city of Linyi, and staffed it with his 15 year old daughter and two of her classmates.  Yep that’s it, easy peasy.

The bank operated at full sails for about a month until a costumer of said bank went to a real branch of the China Construction Bank, and she was unable to withdraw her money. A quick thinking bank manager detected the scam and alerted the police.

A police spokesman later explained the way the scam worked:

Whenever costumers came around to take some moola out the bank, the teenage tellers will say to them that their bank network was not established yet, or that the proper authorities hadn’t finished with the approval—in other words they would deny people the withdrawal of their own money.

From behind bars Mr. Zhang said to a TV reporter.

“I just wanted to open a bank; I didn’t think that much about it.”

A China Construction Bank official said that the bank has a very complex application process for new branches, and that she’s not aware of previous unauthorized branches.

Apparently this happens a lot.

Last year a co-operative in the city of Nanjing decided to upgrade itself into a bank attracting $32Million in deposits by promising interest rates of 2 percent –a week—yeah and I got a bridge I wanna sell you, really cheap, it goes nowhere.

From behind bars Mr. Zhang said to the TV reporter that his depositors’ money has been returned.

Zài jiàn! 再见 
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