LexisNexis® Legal Newsroom
$157 Million Ponzi Scheme Uncovered in China?

Several news outlets are reporting that a Chinese shopping website may have been outed last week as a Ponzi scheme, with the number of victims estimated in the hundreds of thousands and rumors that the founder had skipped town along with senior executives and the bulk of investor funds. While Yao Jianqing...

Death Sentence for Chinese Woman Convicted of $70 Million Ponzi Scheme

A Chinese woman who masterminded a $70 million Ponzi scheme has been sentenced to death by a Chinese court - possibly by firing squad. Haiyan Lin, 39, from the Wenzhou province, received the sentence as part of a broader push by Chinese authorities to crack down on the underground lending industry...