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Large Medium SmallPolice in Huangshi, Hubei province, detained a man who allegedly set up a fake social security office and swindled some 20 million yuan ($3.26 million) from 611 people who were seeking retirement pensions, Chutian Times reported on Friday.
The suspect, surnamed Wu, 59, started making fake retirement certificates in 2010 and claimed that whoever paid him 45,000 yuan would be able to receive a monthly lifetime pension.
Wu collected more than 20 million yuan from 611 people, who received false retirement certificates and 800 yuan per month from him.
Wu soon found himself unable to pay the monthly pension of more than 600,000 yuan.
He fled to the Guangxi Zhuang autonomous region on Nov 4 and planned to go to Vietnam.
Police caught Wu near the border on Nov 11. The case is under investigation.
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