A Beijing court has sentenced the owner of the firm behind China’s biggest online lending fraud to life in prison.
- Ezubo platform allegedly bilked investors of over $7.6 billion
- Twenty-five other Ezubo executives get jail terms: judgment
The court also found Ding and Yucheng International Holdings Group guilty of smuggling precious metals, owning weapons and crossing borders illegally. Yucheng International, an affiliate of Yucheng Group, was fined 1.8 billion yuan, according to the judgment. Police are still trying to recoup some losses for investors, it said.
— With assistance by Jun Luo, and Russell Ward