September 12, 2017 6:10 PM

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26 executives jailed in China over USD 7.7 bln P2P fraud

Twenty-six executives of a Chinese online peer-to-peer (P2P) lender were handed jail terms up to life imprisonment on Tuesday for cheating over nine lakh people for 7.7 billion US Dollars in one of China's biggest fraud cases. <br/><br/>Another 16 were convicted of illegally absorbing public deposits. Some of the defendants were also convicted of other crimes, including smuggling precious metals, illegal possession of guns and border-crossing.<br/><br/>

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