Chinese police have seized nearly 300 million yuan in cash, 187,000 grams of gold, as well as real estate, jewellery, stock equities, luxury cars, and helicopters from Ezubao, an online peer-to-peer (P2P) platform, Xinhua news agency said.
The platform had been in operation for 18 months before it was shut down by police in December 2015. The police found that almost all the investment projects on the company website were fake, the news agency continued.
Chinas regulators have been cracking down on the countrys fast expanding peer-to-peer (P2P) sector, warning in August 2016 that almost half of the 4,000-odd online lending platforms were “problematic”.
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