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Police launch website for Ezubao investigation, urge public to file

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2016-02-15 08:52Global Times Editor: Li Yan

Chinese investors involved in Ezubao's Ponzi-like scheme will have three months to file their information at a website newly established by the Ministry of Public Security (MPS) to help with the investigation.

The ministry said in a statement on its website Saturday that an information registration platform for investors involved in illegal fundraising has been established.

Until May 13, the website will be open to investors involved in the illegal fundraising of Ezubao and its affiliated companies.

"Of course I will upload my information to the website, that's the only thing I can do," an investor, who asked to remain anonymous because of the sensitivity of the issue, told the Global Times Sunday.

The investor based in North China's Tianjin said her family had invested about 600,000 yuan ($91,847) in total in the platform.

The MPS statement urged investors who hadn't been able to get their funds back from Ezubao to register within the time limit to help with the investigation and relevant asset disposal.

The police are investigating illegal fundraising by Ezubao and its affiliated companies, which involved many investors around the nation and huge volumes of electronic data, according to MPS.

Because of the increasing number of Internet-related illegal fundraising cases, traditional methods of investigation are no longer feasible because they involve the collection, verification and analysis of so much data, the MPS noted.

Ezubao, an online financing platform, allegedly took about 50 billion yuan from about 900,000 investors, the Xinhua News Agency reported on February 1.

On January 14, the police arrested Ding Ning, chairman of Yucheng Group, which launched Ezubao in July 2014, and 20 other people, after finding that Yucheng and its affiliates did not have sufficient cash flow to operate normally.

  

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