China

Over SGD27 million linked to Ezubao Ponzi scheme recovered in Singapore

Police have recovered more than SGD27 million in proceeds in Singapore involving China's largest online peer-to-peer lender Ezubao, which was found to be a large-scale Ponzi scheme.

The money was returned to China this month after a Beijing court convicted 26 individuals of fraud and other offences.

The Singapore Police Force's Commercial Affairs Department (CAD) in May 2016 assisted China's Economic Crime Investigation Department (ECID) to conduct asset tracing in Singapore for their investigations into Ezubao.

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