China's ponzi scheme

Internet finance has been one of the targets of Beijing’s derisking crackdown. Photo: Shutterstock

Eight Chinese ringleaders charged over US$9 billion Ponzi scheme

Chinese authorities say they have exposed a Ponzi scheme that lured 60 billion yuan from retail investors, in what would be the latest success for the country’s risk prevention campaign.

25 Apr 2018 - 10:42pm 10

A still from state television shows the founder of the Ponzi scheme, Zhang Xiaolei, behind bars. Photo: Associated Press

Eleven investors held after Chinese Ponzi scheme protests

25 Jan 2018 - 8:59pm 2

Qbao founder Zhang Xiaolei handed himself in to police in late December. Photo: News.cn

The collapse of Qbao, another popular Chinese Ponzi scheme

24 Jan 2018 - 9:51pm 9

Twenty-six executives of a Chinese online peer-to-peer (P2P) lender are handed jail terms ranging from three years to life imprisonment for cheating the public out of large amount of money in Beijing. Two Chinese were sentenced to life by another court for a pyramid scheme. Photo: Xinhua

Chinese men jailed for life after their US$2.4 billion pyramid scheme conned 200,000 people

10 Jan 2018 - 8:01am

Pictures of the stash of money went viral on social media. Photo: Thepaper.cn

Police find US$30 million in flat in pyramid scheme crackdown

5 Jan 2018 - 2:28pm 1

Underground get-rich-quick scams that prey on wide swathe of population pose a risk too big for Beijing to ignore

Pyramid schemes: a dark corner of China’s economy

29 Sep 2017 - 6:17pm 6

As fraudster Ding Ning is jailed for life after accumulating 50 billion yuan from investor, China shows it must not risk instability to society. Photo: Xinhua

Beijing must stamp out Ponzi schemes

19 Sep 2017 - 12:44am 3

A file picture from June this year of suspects detained after a pyramid scheme was broken up in Beihai in the Guangxi region. Photo: AFP

The deaths that sparked China’s crackdown on pyramid schemes

15 Sep 2017 - 10:46pm

Ding Ning was convicted of fraudulent fundraising, among other crimes. Photo: SCMP Pictures

China’s ‘Bernie Madoff’ jailed for life for huge fundraising fraud

12 Sep 2017 - 9:57pm 3

Police keep a close eye on a crowd of people protesting against an investigation into an alleged pyramid scheme on July 24. Photo: Kyodo

Chinese police arrest 230 following probe into ‘pyramid scheme’

31 Jul 2017 - 10:59pm

Demonstrators taking part in the protest on Monday. Photo: Kyodo

Sixty-seven held after big pyramid scheme protest in Beijing

27 Jul 2017 - 12:22pm 1

People trying to join a protest against a fraudulent investment scheme in Beijing on Monday lie on the ground after being blocked by police. Photo: Kyodo

Why Ponzi schemes are thriving in China

25 Jul 2017 - 11:15pm 14

Floor traders are seen at the Hong Kong stock exchange in Central. Photo: Sam Tsang

Three theories to explain Hong Kong’s penny stock crash

4 Jul 2017 - 11:00pm 4

Investors gather at the office of Shanghai investment firm Zhongjin Capital Management in Shanghai yesterday. Photo: Reuters

Police raid Shanghai ‘Ponzi scheme’ suspected of raising ¥30b

8 Apr 2016 - 2:20am

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