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China Court Sentenced Neo Capital Founder Peng Tie to Jail for Life for Misappropriating $14.2 Billion of Deposits from 1.3 million Clients & Fraudulently Raised $1.24 Billion, Setup Wealth Management & Peer-to-Peer Lending Platform in 2013

14th July 2023 | Hong Kong

The Shenzhen Intermediate People’s Court (China) has sentenced Neo Capital founder Peng Tie to jail for life for misappropriating $14.2 billion of deposits (CNY 102 billion) from 1.3 million clients and fraudulently raised $1.24 billion (CNY 8.9 billion), having setup the wealth management & peer-to-peer lending platform in 2013.  Peng Tie personal assets will be confiscated and 25 other had also been sentenced to jail and fined.  

“ China Court Sentenced Neo Capital Founder Peng Tie to Jail for Life for Misappropriating $14.2 Billion of Deposits from 1.3 million Clients & Fraudulently Raised $1.24 Billion, Setup Wealth Management & Peer-to-Peer Lending Platform in 2013 “




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