A man holds up a bag with a logo of a P2P lender as he attends a protest over losses incurred in peer-to-peer (P2P) investment schemes in front of the public security ministry of Dongcheng district in Beijing on August 27, 2018. Photo: Reuters
China crackdown on fraudulent P2P platforms results in 62 overseas arrests, US$1.5 billion of assets frozen
- A wave of defaults hit the peer-to-peer lending sector in June, which wiped out billions of dollars of savings that retail investors put in
- The implosion sparked widespread public grievance and protests
A man holds up a bag with a logo of a P2P lender as he attends a protest over losses incurred in peer-to-peer (P2P) investment schemes in front of the public security ministry of Dongcheng district in Beijing on August 27, 2018. Photo: Reuters
