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China's 50b yuan Ponzi scam highlights growing online risks

Central bank-led monitoring system to track Internet financial activity and flag problems needed, suggests one analyst

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The Ezubao office in Hangzhou. Executives at Ezubao's parent company, Yucheng Group, say investor funds were used to support a lavish lifestyle, according to Xinhua news agency.

Beijing

ONCE China's biggest peer-to-peer (P2P) lending platform, Ezubao collected 50 billion yuan (S$10.9 billion) in less than two years from more than 900,000 investors through savvy marketing and the promise of big returns.

But executives at Ezubao's parent company, Yucheng...

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