Man buys gym memberships valid for 300 years worth ₹1 crore, ends up in a massive scam

Economic Times

a day ago

Synopsis
In a shocking incident in eastern China, a man named Jin fell victim to a bizarre fitness scam, spending over ₹1 crore on gym memberships and personal training valid for 300 years. Lured by a 'special promotion' promising high returns, Jin purchased numerous memberships, only to find the gym's management vanished.
iStock In China, a man spent a huge amount on gym memberships and personal training. Ranyan Gym promised high returns on reselling memberships. He bought 26 contracts expecting profit. The gym staff disappeared without providing the promised returns. (Image: iStock) In what could be one of the most bizarre fitness scams in recent memory, a man in eastern China shelled out over ₹1 crore for gym memberships and personal training sessions valid for an unbelievable 300 years—only to watch the gym's management vanish with his money.
According to a South China Morning Post report, the man, identified as Jin, had been a loyal member of the Ranyan Gym in Hangzhou's Binjiang District for three years. Between May 10 and July 9, he signed 26 contracts for memberships and coaching sessions, spending a staggering ¥871,273 (₹1.05 crore). His purchases amounted to around 1,200 lessons and an accumulated membership validity spanning three centuries.
Jin said it all began on May 9 when a sales worker told him about a 'special promotion' for long-time customers. The offer promised that if an existing member bought a one-year membership card for ¥8,888 (₹7.78 lakh), the gym could resell it to new customers for ¥16,666 (₹14.6 lakh). The member would get 90% of the profit, with the gym keeping just 10%. Initially skeptical, Jin was assured by staff that if the cards didn't sell within two months, his money would be refunded in full. Encouraged, he purchased two cards for ¥17,000 (₹14.9 lakh) and soon found himself buying more memberships and private lessons—spending over ¥300,000 (₹26.2 lakh) in one go on one occasion. Jin expected to start receiving returns by July 15, but no money came through. A sales worker claimed the finance department was still 'reviewing' the payments. By the end of July, the truth hit—management and sales staff had fled.
When Zhejiang TV visited the gym, it was still operational but staffed only by receptionists and admin workers. Jin then discovered a crucial catch: none of the contracts mentioned any promised returns, and all included a clause that memberships were non-transferable. 'I admit that I have been brainwashed by them,' Jin said. 'I believed I was just one small step away from getting back all my money. I actually do not count on using it for 300 years. In my eyes, it was a kind of commitment to health.' Jin has since taken legal action and turned to local television to expose the scam. The story has gone viral on Chinese social media, where reactions ranged from disbelief to humor. One commenter joked, 'He bought the gym card for the grandsons of his grandsons.' Another quipped, 'When a person's wealth and IQ do not match, the extra wealth will eventually flow back to society.'
While Jin's legal battle is ongoing, his cautionary tale serves as a reminder that when it comes to investments—whether financial or 'for your health'—if it sounds too good to be true, it probably is.