26 executives jailed over lending fraud

Twenty-six executives of a Chinese online peer-to-peer lender were handed prison terms ranging from three years to life on Tuesday for cheating the public out of large amounts of money.

Anhui Yucheng and Yucheng Global, the companies that operated peer-to-peer lender Ezubao, and 10 company executives, including Yucheng chairman Ding Ning, were found guilty of fundraising fraud in Beijing No 1 Intermediate People's Court.

Another 16 people were convicted of illegally taking public deposits.