IN BRIEF (Page 4)
China Daily | Updated: 2016-12-23 08:02
Beijing
Court accepts P2P fraud case
The Beijing First Intermediate People's Court announced on Thursday that it is hearing a high-profile peer-to-peer fraud case. Investigations suggest that Ezubao, an online P2P lending platform, cheated members of the public out of nearly 60 billion yuan ($8.6 billion) through fake investment projects advertised on its website from June 2014 to December last year. The company reportedly defaulted on loans worth more than 38 billion yuan.
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