China seizes $1.5b worth assets in latest P2P lending crackdown

China seizes $1.5b worth assets in latest P2P lending crackdown

Photo: Reuters

China has arrested 62 suspects abroad and seized 10 billion yuan ($1.5 billion) in assets from 380 fraudulent peer-to-peer (P2P) lending platforms since June as part of a crackdown on online finance, the public security ministry said.

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