The shutdown of Ezubao and the losses suffered by depositors in 2016 resulted in the jailing of its executives for running a Ponzi scheme. Photo: AP

Chinese courts pledge to increase pressure on financial crime after sharp rise in prosecutions for illegal crowdfunding, pyramid schemes and bad loans

  • Prosecutor says 27,000 people were charged with running scams in 2018
  • Overall number of people to appear before the courts charged with financial crimes in 2018 was close to 27,000 – a 10.9 per cent increase on the year before
Topic |   Two Sessions 2019 (Lianghui)

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The shutdown of Ezubao and the losses suffered by depositors in 2016 resulted in the jailing of its executives for running a Ponzi scheme. Photo: AP
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