BC-AS--China-Online Lend, 0613
Contributed by NAMPA / Associated Press.
Founder of online Chinese lender sentenced to life for fraud<
AP Photo XMAS101-0913171442<
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By JOE McDONALD<
AP Business Writer<
BEIJING (AP) - The founder of a Chinese online peer-to-peer lender has been sentenced to life in prison on charges he defrauded investors of $7.7 billion in one of China's biggest financial scams.
Ezubo was the biggest competitor in an informal finance industry that Chinese authorities allowed to flourish with li ...