Chinese officials say that the online company, Ezubao, once a dynamo of the industry, offered mostly fake investment products to its nearly one million investors, according to the state-run Xinhua news agency. The authorities arrested 21 people in Anhui, the eastern Chinese province where Ezubao is based, and closed some of the platform’s operations, the agency reported on Sunday.

http://www.nytimes.com/2016/02/02/business/dealbook/ezubao-china-fraud.html?smprod=nytcore-ipad&smid=nytcore-ipad-share&_r=0