China recovers over $1.5 billion of assets in online lending fraud case: Xinhua

China has recovered more than 10 billion yuan ($1.5 billion) of illegal assets since launching a fraud investigation into an online lending platform, the official Xinhua news agency quoted the Beijing public security bureau as saying on Wednesday. China's regulators have been cracking down on the country's fast expanding peer-to-peer (P2P) sector, warning in August that almost half of the 4,000-odd online lending platforms were "problematic". China's police have seized nearly 300 million yuan in cash, 187,000 grams of gold, as well as real estate, jewelry, stock equities, luxury cars, and helicopters from online peer-to-peer (P2P) platform Ezubao, Xinhua said.

Original story here.

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