Bai Yingcang Said Before Execution That a Single Ponzi Scheme Could Raise 2 Billion Yuan

October 6, 2026

New footage of Bai Yingcang, a leading figure in the notorious Bai criminal group in northern Myanmar, has shed further light on the enormous financial incentives behind telecom fraud operations in the region.

The footage was released as part ofThe Downfall of Telecom Fraud in Northern Myanmar, a documentary jointly produced by China's Ministry of Public Security and China Media Group and broadcast from October 5 to 7.

In footage recorded before his execution, Bai said the financial temptation created by fraud was extremely difficult to resist, claiming that“a single Ponzi-style investment scheme could easily involve more than 1 billion yuan, or even 2 billion yuan.”Chinese state media published the remarks on October 6.

The figures were presented as Bai's own description of the criminal business model and should not be interpreted as judicial confirmation that every such scheme reached those amounts.

The Money Behind the Scam Industry

Bai's remarks offer a glimpse into the financial incentives that helped sustain large-scale fraud operations in northern Myanmar.

According to CCTV, the Bai family became an important source of protection for some scam operators seeking to establish themselves in northern Myanmar. The group was accused of providing locations and armed protection while also becoming directly involved in criminal activities.

Bai said the enormous profits generated by fraud made it extremely difficult for people involved in the industry to resist the temptation.

His reference to schemes involving billions of yuan illustrates the scale of the financial interests that could exist behind some organized fraud operations.

Fraud Networks Were More Than Online Scams

Investigations into criminal organizations in northern Myanmar have shown that some operations went far beyond online deception.

Authorities have linked major criminal groups to telecom fraud as well as murder, assault, kidnapping, extortion, illegal gambling, drug trafficking and other offenses.

The Bai criminal group was among the most prominent cases.

According to information released by China's Supreme People's Court, the group established multiple compounds in Myanmar's Kokang region and provided facilities and armed protection for criminal operations. Judicial authorities determined that funds connected to its gambling and fraud activities exceeded29 billion yuan, while six Chinese citizens were killed and others were injured.

A Network Built Around Money and Protection

Publicly released judicial information indicates that some northern Myanmar criminal networks operated through a division of roles.

Fraud operators handled specific schemes and financial operations, while local criminal groups could provide compounds, security and armed protection.

The result was a cross-border criminal structure in which telecom fraud became closely connected with other forms of organized crime.

CCTV's documentary describes the Bai family as having built influence across political, military and police structures in the region, helping it become a source of protection for some scam operators.

Bai Was Eventually Sentenced to Death

Bai Yingcang ultimately faced prosecution in China.

On November 3, 2025, the Shenzhen Intermediate People's Court sentenced Bai and other members of the Bai criminal group to death for crimes including intentional homicide, intentional injury, fraud, drug trafficking and manufacturing, kidnapping and illegal gambling.

Bai appealed the verdict, but the Guangdong High People's Court rejected the appeal and upheld the original judgment on December 24, 2025.

The Supreme People's Court subsequently approved the death sentence. Bai was executed by the Shenzhen Intermediate People's Court on February 2, 2026.

The footage released months later provides a rare look at his final account of the criminal operation.

Behind the Billions Were Real Victims

The figures of one or two billion yuan may appear abstract, but behind the money were victims who lost savings, businesses and, in some cases, their entire financial security.

Fraud schemes often rely on promises of unusually high returns, seemingly low risks and quick profits. Such claims can encourage victims to transfer increasingly large amounts of money before the underlying scheme collapses.

The term “Ponzi scheme” generally refers to a fraudulent investment structure in which returns promised to earlier participants are funded largely by money from later participants rather than genuine profits.

For ordinary investors, promises of guaranteed high returns, extremely low risk or effortless wealth should therefore be treated with caution.

Bai's statement that a single scheme could involve billions of yuan does not offer a formula for making money. Instead, it highlights the enormous financial incentives that helped fuel a criminal industry — and the severe human cost left behind when those schemes collapsed.

The exposure of the Bai group's operations is part of a broader effort by Chinese authorities to dismantle major telecom-fraud networks linked to northern Myanmar and bring their organizers and protectors to justice.