Bogus monks milk temples of donations and offer loans with high interest

Bogus monks milk temples of donations and offer loans with high interest

Sin Chew Daily reported that bogus monks in China were milking temples of their donations and offering the funds as loans with high interest.

It was reported that the "monks" could take between 70,000 yuan (S$14,000) and 80,000 yuan a month from smaller temples, and between 100,000 yuan and 200,000 yuan from larger institutions.

The illegal returns were said to be higher than the salaries of civil servants. The donations were mainly from worshippers and the sale of tickets to visit the temples.

Some of the "monks" were even alleged to be married with children and own property, including luxury cars.

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