Leader of China's $9 billion Ezubao online scam gets life; 26 jailed | WHAT REALLY HAPPENED


Leader of China's $9 billion Ezubao online scam gets life; 26 jailed

A Beijing court on Tuesday sentenced the architect of the $9 billion Ezubao online financial scam to life imprisonment, and handed down jail time to 26 others, marking the close to one of the biggest Ponzi schemes in modern Chinese history.
The ruling comes at a time when the government is stepping up efforts to crack down on risky and illicit behavior in the country's financial sector, including the unruly peer-to-peer industry that continues to attract high volumes.

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