China’s giant elevated bus was a scam – Police

In August 2016, a Chinese company launched the TEB-1, a Transit Elevated Bus which sits over two lanes of traffic and lets cars pass underneath it.

According to the Chinese authorities, the bus was a scam and the company behind it is now being investigated.

Engadget reported that the TEB-1’s test site started gathering dust as “financial problems and other suspicious setbacks” took hold after the launch.

Beijing police said they are investigating the company behind the bus for illegal fundraising.

“They’re holding over 30 people connected to the capital-raising platform Huaying Kailai, which raised funds from individual investors for the bus,” stated the report.

Related reports stated that 72 investors have also filed lawsuits against the company, after it raised $1.3 billion for the TEB-1 project.

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China’s giant elevated bus was a scam – Police