A man in Shanghai, China, allegedly swindled more than 1.7 million yuan (about RM1.1 million) from classmates and friends using fabricated stories about his father’s cancer diagnosis and business financial troubles, before losing all the money in the stock market.
According to Shanghai police on Oct 26, the case came to light after three victims tracked down the man, identified as Jiang, over unpaid debts and got into a dispute with him.
Investigations by the Shanghai Public Security Bureau’s Putuo branch found that Jiang had been borrowing money from the three friends since 2019, claiming he needed funds for technology investments, a wedding and a house purchase, as well as to keep his company running.
Over time, he escalated his deception by claiming his father had cancer and urgently needed treatment. He later told the victims that his father had died and that he needed money to cover funeral expenses.
The total amount allegedly obtained through the scheme exceeded 1.7 million yuan.
To make his stories more convincing, Jiang reportedly used artificial intelligence (AI) to generate a video showing his father seriously ill in bed, which he posted on his social media account.
Police discovered that even the claim about his father’s death was fabricated.
After the deception was exposed, Jiang admitted that his stories about his father’s illness and death, as well as his company’s financial difficulties, were lies.
He reportedly lost all the money he obtained in the stock market.
Jiang has been criminally detained by Putuo police on suspicion of fraud, while investigations into the case continue.
