A MAN who was suspected of cheating people out of 40 million yuan (US$6.23 million) through illegal fund-raising has been detained by Shenzhen police.

The man, surnamed Jin, surrendered to police in Lianyungang City, Jiangsu Province. According to police, Jin attempted to commit suicide several times after conducting the fraud, and later turned himself in to police after he was saved.

Jin fell 30 million yuan into debt from a bankrupt business and gambling between 2010 and 2014.

To pay off his debt, he started borrowing money from friends and relatives, and later illegally raised money by promising high returns.

After he raised the money, he went gambling in South Korea and Macao. In September 2017, after he had gambled away his last 700,000 yuan, Jin attempted various methods to commit suicide, failing each time.

In Lianyungang, Jin attempted to drown himself in the sea but was saved. Jin then confessed to his crime. He was transferred to the custody of the Shenzhen police June 8. (Han Ximin)