2 jailed for life over pyramid scheme

Two people were sentenced to life in prison in Hangzhou on Monday for their role in a 15.6 billion yuan ($2.4 billion) pyramid scheme. Huang Dingfang and Cai Keyi were convicted at Hangzhou Intermediate People’s Court of fraudulent fundraising. Hang set up Longyan E-commerce Co in January 2015 and worked with another firm owned by Cai to swindle 200,000 investors, the court said. Nineteen others involved in the scam were given sentences of up to 12 years in prison.