Court ac­cepts P2P fraud case

China Daily (Hong Kong) - - CHINA -

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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