Showing posts with label China; Ponzi Scheme. Show all posts
Showing posts with label China; Ponzi Scheme. Show all posts

Tuesday, September 12, 2017

China Jails 26 Over US$7.6 Bn Ponzi Scheme

Ezubao reportedly swindled more than 900,000 investors out of US$7.6 billion, mainly between 2014 and 2015, in what has been called China's biggest-ever Ponzi scheme
Two senior executives of a collapsed peer-to-peer lender were sentenced to life in prison and 24 others punished over what has been called China's biggest-ever Ponzi scheme, state media reported Tuesday.