EuroFX venture chief released

CHINESE prosecutors have dropped an investigation into the British chief executive of an alleged million-dollar pyramid scheme and allowed him to leave the country, a year after he was apprehended in a citizen’s arrest by an investor. The prosecutors in Anshan, northern China, decided not to bring charges of fraudulent collection of funds against the businessman, named David Byrne, because they did not have enough evidence, according to an official order. The prosecutors declined to comment. Byrne returned to Britain last week. He said last year he was not actually in charge of EuroFX, and that another Briton had “full authority” over him. He said his release confirmed his innocence. “I will continue to do everything in my power to assist the victims,” he said. The venture, known as EuroFX, allegedly scammed thousands of investors in China and other countries. EuroFX was registered in Britain and had British headquarters. Byrne was detained by Anshan police last May and freed on bail but barred from leaving China. – Reuters