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Makers of tram cars runs suspicious of scams

Makers of tram cars runs suspicious of scams

Photo: Xinhua

The company behind a tram that is about cars go driving is being investigated by the Chinese police. The creators would investors have been ripped off to raise money.

According to Quartz, the police in Beijing launched an investigation. There would be 30 people involved in the company, have been arrested, including the CEO.

The Chinese TEB Technology Development promised a tram to that on cars that can drive. After a first trial in August, the company has, however, nothing more is taken. Recently said the maker of his tests to another town to move.

Investments

It was possible to make at least $ 150,000 in the project to invest in. The company promised a profit of 12 percent per year. Since then TEB sued by 72 investors because of problems with loans.

The company would have a total of 9.1 billion yuan (1.18 billion euro) deal of investment money has been received.

The police calls on investors to contact. There is at the moment look at how the money of the company can be returned to investors.

First test tram on the traffic

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