Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2017
Final Appeal in Illegal Fundraising Case: Ding Ning Sentenced to Life Imprisonment and Involved Entities Fined
In 2017, the second-instance trial of the Ezubao illegal fundraising case upheld the original judgment. Ding Ning was sentenced to life imprisonment after being convicted on multiple charges, and the relevant entities and individuals were penalized. This entry supplements the original investigation record with the judgment outcome and does not equate the total investor losses with the amount recovered and returned.
2016
Ezubao Ponzi-scheme investigation
Authorities investigated Ezubao after its December 2015 trading halt. Zhang Min reportedly told investigators that new investor funds were used to pay earlier investors. Authorities estimated that about 50 billion yuan had been raised from approximately 900,000 investors and reported that around 95% of investments were fake.