"In many cases, unsuspecting victims were cheated out of millions or tens of millions of yuan. The most serious case involved over 100 million yuan (USD15.3 million)," Li Ruiyi, a senior criminal judge at the Supreme People's Court (SPP) said.
Different from "traditional" phone scams, internet fraud often involves identity theft and software is employed to disguise the criminal's identities and phone numbers.
According to Li, the severity of the crimes led some companies to file for bankruptcy, while some individuals committed suicide, state-run Xinhua news agency reported.
They fleeced more than 1.88 million yuan from over 3,000 victims across the country. Judges have been ordered to issue harsh punishment on key members of telecom fraud group.