Shanghai police bust 11 bln USD online gambling case

Shanghai police authorities have busted a 70 billion yuan (11.2 billion U.S. dollars) online gambling case, the biggest ever in the country's financial and business center. The gambling ring ran a website using servers from abroad and made bets on behalf of customers on more than 20 overseas online gambling sites, Cao Zhongping, spokesman of the Shanghai public security bureau, said at a press briefing on Tuesday. Betting stakes amounted to more than 70 billion yuan between January and July this year, Cao said. In a raid on July 11, police arrested more than 50 ring members, seized three million yuan of gambling funds and froze another 10 million yuan. Shanghai police authorities will continue to beef up online supervision and crack down on online gambling to ensure harmony and stability in society, Cao added.