Man behind China's biggest Ponzi scheme gets life sentence
A Beijing court has sentenced Ding Ning, the Chairman of Yucheng Group that was behind China's biggest online Ponzi scheme, to life in prison. He was also fined $15.3 million (â¹98 crore) for fundraising fraud, smuggling precious metals, and owning guns illegally. Authorities alleged that Yucheng's Ezubao platform had defrauded 9 lakh people of over $7.6 billion.