Chinese man arrested for Olympic Internet fraud

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BEIJING, Oct 1 (Reuters) A Chinese man who cloned an Olympics Web site and made around 50,000 dollars from fake prize draws has been arrested by police in the island province of Hainan, state media reported.

Liao Peigui, a 20-year-old computer engineer in Danzhou city had persuaded his victims to transfer 10 to 20 per cent of the value of their ''prize'' into a bank account he had opened.

His copy of official Web site www.beijing2008.cn, which currently gets more than 1 million visits a day, netted Liao a suspected 53,300 dollars, the Xinhua agency said in report late last night.

China is considered the largest source of counterfeit goods in the world, causing billions of dollars in lost sales to makers of everything from music and movie DVDs, designer clothes and consumer electronics and software.

In the summer, Beijing ran a special campaign to root out street peddlers selling fake Olympic products.

REUTERS BJR DS1125

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