Chinese authorities swooped on an online finance business that is said to have amassed billions of dollars from millions of investors since last year, in latest series of investigations encompassing brokers, money managers, and regulators.
Ezubo is being probed for alleged illegal operations. According to Xinhua News Agency, the online platform and its affiliates owned by Jinyirong (Beijing) Internet Technology Co. are illegally running their Internet finance.
The company, in a recorded phone message, said they had suspended its services because of the aggravating smog in the country, as well as a routine inspection by the Chinese officials.
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