Hot from CNN is a Chinese man who managed to con people of US$387 Million in a giant scam to breed ants. He came up with a business that claims to produce wine, tea and medical elixirs using mature ants.

According to the news, black ants are sold by the bagful in some parts of China, to make tea or soak in liquor as a natural remedy for ailments such as arthritis.

So this scammer (called Wang) sold packages of ants to the investors for up to as much as 10,000 yuan (US$1,290) when they were only worth 200 yuan, China Central Television reported. We are wondering how he managed to do that, since the product is from the same country.

More than 10,000 people, lured by the promise of returns of up to 60 percent, signed 100,000 contracts with Wang's bogus company before the case came under investigation in June 2005.

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And so while you are busy reading the "More News..." on another window, we are busy finding out more information about our US$387million dollars black ants. It appears that the particular species of black ants does have its uses, and have been sold before.

Black Ants Products

Research Report on Black Ants

(Note: links and attachments are for information only.)