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01 Feb 2016

Guess where! 21 arrested over $7.6 billion online ponzi scam

China has arrested 21 people allegedly involved in a massive online Ponzi finance scheme in which some 900,000 investors lost over USD 7.6 billion, the state media reported Monday.

01 Feb 2016

China arrests 21 over $7.6 bn Ponzi scam: Report

Chinese authorities have arrested 21 people on suspicion of defrauding around 900,000 people of more than 50 billion yuan ($7.6 billion), state media reported, after an online peer-to-peer lender turned out to be a giant Ponzi scheme.

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