New Delhi, May 29 -- In Shanghai, China, many people were shocked to learn that they would get beef instead of money from an investment app. A gang of four raised $70 million (over Rs.598 crore) over eight years. They claimed to run cattle farms and sell beef.

One woman, Wu, trusted the app after seeing their fancy store. She invested $14,000 (nearly Rs.12 lakh) for a 12% yearly return on investment. But, when she tried to withdraw her money, the app offered only beef or a chance to sell it online.

The gang was arrested in November 2024 and charged with illegal fundraising. The app owner blamed investors, saying it wasn't his fault.

The gang leader, Zhang, denied doing anything wrong. He claimed the scheme was a new business idea. Zhan...