Beijing court accepts P2P fraud case

Source: Xinhua | December 22, 2016, Thursday |

Online Edition

BEIJING First Intermediate People's Court announced Thursday that it is hearing a high-profile P2P fraud case involving tens of billions of yuan.

Investigations suggest that Ezubao, an online peer-to-peer lending platform, has cheated members of the public out of nearly 60 billion yuan (US$8.6 billion) through fake investment projects advertized on its website from June 2014 to December 2015. The company reportedly defaulted on loans worth more than 38 billion yuan.

Beijing People's Procuratorate on Dec. 15 filed charges of fraudulent fund-raising against Ezubao's parent companies, Yucheng Holdings and Yucheng Global, and ten people. A further 16 individuals were charged with illegally absorbing public deposits.

The defendants were also charged with smuggling precious metals, illegally possessing weapons and undocumented border-crossing.

Nation

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Beijing court accepts P2P fraud case

Email this to your friend