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China urges investors to register claims against shut-down P2P lender

Move raises hope of compensation but sceptics fear that information may be used against them

Published Sun, Feb 14, 2016 · 09:50 PM
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Shanghai

CHINESE authorities have urged investors to register their claims against a now shut peer-to-peer (P2P) lender allegedly behind the country's biggest ever Ponzi scheme, according to a statement, raising hopes of compensation.

The Ministry of Public Security, or police, on Saturday called on investors in the financial products of Ezubao - which allegedly cheated 900,000 people out of 50 billion yuan (S$10.6 billion) - to provide their personal information through a newly established online platform.

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