Houbank, a Chinese online peer-to-peer (P2P) lending platform that counts Sequoia Capital China as a major shareholder, has been put on file for investigation and prosecution of alleged "illegal absorbing public deposits," the municipal public security bureau in Shanghai said in a statement on late Tuesday.
Sequoia-Backed P2P Lender Huobank Collapses As Beijing Mops Up Online Finance Risks comes originally from China Money Network. All Rights Reserved.