Ezubao: China's Crazy $7 Billion Ponzi Fraud
发布时间 2020-09-27 14:08:51 来源
摘要
In today's video, I want to talk about a particularly big one in the People's Republic of China - Ezubao. It took advantage of the growing person to person financial lending trend (P2P) to generate illegal gains for the organizers. It exploded onto the scene in 2014 and quickly gathered $7.6 billion in funds. It told its victims that the money would be going to reputable borrowers. Instead, it went into their pockets.
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