Tagged: chinese ministry of public security

Wealthroll Owner Xu Qin Confesses Ponzi Scheme: Online Lender Defrauded $6.1B. World Capital Market Caught in Pyramid Scheme

As Chinese authorities continue their hunt for unregulated online lending and investment firms, more fraudulent fintech platforms are bound to be nabbed for unseemly and illegal behavior.  Today Bloomberg News reported the latest Ponzi scheme that separated 39.9 billion yuan ($6.1 billion) from 25,000 investors. Crowdfund… Read More

Send this to a friend