Shanghai cracks down on illegal money traders

A Shanghai court sentenced four people were sentenced to 9-14 years in prison for illegally bartering currency between China and Singapore Monday, state media reported. The defendants – one Chinese and three from Singapore – had used 23 personal accounts for illegal activities totaling more than US$500 million between December 2003 to April 2006 in Suzhou. The case is the biggest of its kind for Shanghai since 1949.