Man charged with taking millions in guise of charity

A man cheated 280 people out of more than 46 million yuan ($7.5 million) under the guise of charity, Beijing News reported on Friday.

Li Changbin reportedly lured the people with high interest as bait and collected the money from them to invest in a so-called charity project from March 2011 to March 2012. Li stood trial on Thursday in the city's No 2 intermediate court and denied cheating anyone. The trial will continue.