Ezubao
Ezubao is a financial company Chinese online based on a Ponzi scheme , led by Ding Ning , who misled 900,000 people by diverting $ 7.5 billion since its creation in 2014. The case was revealed on 1 st February 2016, which led to the arrest of 21 people including its leader. Ezubao is more specifically a participatory loan company, which was supposed to link projects, which proved dummy, with investments, all with an annual profitability ranging from 9% to 14.6% 1 , 2 , 3 , 4. In September 2017, a Chinese court sentenced the founder and a principal of Ezubao to life imprisonment and fines of over € 10 million for fraudulent fund raising 5 .
References
- ↑ China gigantic online scam to $ 7.6 billion [ archive ] , Sébastien Falletti, Le Figaro, 1 st February 2016
- ↑ The “Chinese Madoff” swindle 900,000 people [ archive ] , Le Monde, February 2, 2016
- ↑ China: 21 people arrested for alleged massive financial fraud [ archive ] , Liberation, 1 st February 2016
- ^ Ponzi Scheme in China Gained Credibility From State Media [ Archive ] , Neil Gough, The New York Times, February 5, 2016
- ↑ https://www.warning-trading.com/vous-informer/actualites/chine-prison-a-vie-pour-deux-dirigeants-a-lorigine-dune-mega-chaine-de-ponzi/ [ archive ]