Gambler
Turns Rental Cars into Millions
As reported by the Shanghai
Daily: "A gambling addict is under arrest
for allegedly using rented cars as collateral
on loans from a loan shark, and then fleeing.
"Police
say Yin Ping, 25, was able to raise several
million yuan through the fraud scheme.
"Yin
allegedly leased 18 expensive sedans, such as
Audis and Lexuses, worth about 5 million yuan
(US$617,284) from a rental car company in July
and August. He then let a loan shark surnamed
Ma hold onto them as collateral on loans worth
about 2 million yuan, police said.
"Police
said Yin is a gambling addict and he came up
with the scheme in order to raise money for
a betting trip to Macau..."
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