Shanghai Daily news

The Nanhui District People's Court yesterday sentenced 56-year-old unemployed man, Shao Guilong, to 11 years and three months in prison for defrauding friends of 960,000 yuan (US$139,838).

In July 2004, Shao borrowed money from two friends promising high interest rates, and used real estate which had been frozen by the court as a warranty. The two victims used their real estate certificates to get loans from the bank and lent the money to Shao.