Since China launched an inquiry into Ezubao, an online lending platform, it has recovered more than $1.5 billion of illegal assets. Reuters, citing the official Xinhua news agency, reported Beijing public security bureau disclosed the figure in terms of illegal assets. Regulators in China have...
In the latest Ponzi scheme of size and of headlines, the news of a $7.6 billion fraud emanating out of China exposes the risks of plunging into online finance, Reuters reported Wednesday (Feb. 3). As the newswire noted, Ezubao gathered up that staggering sum in...
September 13, 2017
A court in Beijing handed down a life sentence for the mastermind behind the $9 billion Ezubao financial Internet scam and sentenced 26 others to jail time. According to a Reuters news report, the Tuesday (Sept. 12) sentencing brings to a close one of the largest Ponzi schemes to happen in China. As the government […]
November 24, 2016
Since China launched an inquiry into Ezubao, an online lending platform, it has recovered more than $1.5 billion of illegal assets. Reuters, citing the official Xinhua news agency, reported Beijing...
