China P2P Lender Hongling Capital Founder & Chairman Zhou Shiping Jailed for Life with All Assets Confiscated for $15.3 Billion Fundraising Fraud from 480,000 Investors Between 2009 to 2021, 17 Others Jailed Between 30 Months to 11 Years
8th December 2023 | Hong Kong
China P2P (Peer-to-Peer) lender Hongling Capital Founder & Chairman Zhou Shiping had been sentenced to jail for life with all assets confiscated for $15.3 billion fundraising fraud (CNY 109 billion) from more than 480,000 investors between 2009 to 2021. 17 others had also been jailed between 30 months to 11 years. Hongling Capital founded in 2009, was based in Shenzhen. Hongling Capital Founder & Chairman Zhou Shiping had misused the funds raised to finance existing business & investment expenses, and used $2.8 billion (CNY 20.4 billion) of the funds for himself.
“ China P2P Lender Hongling Capital Founder & Chairman Zhou Shiping Jailed for Life with All Assets Confiscated for $15.3 Billion Fundraising Fraud from 480,000 Investors Between 2009 to 2021, 17 Others Jailed Between 30 Months to 11 Years “
China P2P Lender Hongling Capital Founder & Chairman Zhou Shiping Jailed for Life with All Assets Confiscated for $15.3 Billion Fundraising Fraud from 480,000 Investors Between 2009 to 2021
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