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More complaints vs. savings scam • DPS expects more victims to come forward as probe continues
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Posted on Dec 28 2000
The number of Chinese garment factory workers who were victimized in a savings scam has risen to 60 and police expect the number to increase further as investigators dig deeper into the case.
Police investigators have appealed to the garment factory workers to file their complaint as they gather more evidence against Chinese couple Lin Zu Xiu and Li Rui Yuan, alleged mastermind of the scam.
Capt. Delbert Sablan yesterday said the couple are also being investigated for allegedly collecting $6,000 each from 10 Chinese nationals in exchange for the issuance of their entry permits in 1998 and 1999.
Investigation showed that Ms. Xiu and Mr. Yuan, convinced the garment factory workers of Mirage Garment Factory and L&T Garment Factory to deposit their money at Zhida Free Market, the business owned by the couple located in Garapan.
They promised the workers they will earn 10 percent interest for their deposit while others will earn as much as $100,000 in interest every month. Some of the workers have been depositing money at Zhida Market as early as January 1999.
The complaint filed by three garment factory workers led to the discovery of the scam as they have been trying to withdraw their money from the couple’s business. When confronted by the workers, the couple simply said they do not have the money.
One of the victims, Li Yao, told the police that she deposited $12,500 in January 1999 at Zhida Market. This year, she started withdrawing money from the bank and deposited an additional $13,000 last Aug. 17.
Two other workers, Kefeng Yao and Xueye Yu, deposited $13,000 and $2,200, respectively, hoping that their investments will double in a few months.
Superior Court Associate Judge Timothy H. Bellas has set a $100,000 bond each for the temporary release of the couple. Their travel documents have been confiscated after the discovery that they have purchased plane tickets for Hong Kong.
