Yucheng Global and Zhang Min

investment projects: Ezubao was nothing but a Ponzi scheme, according Zhang Min, president of Yucheng Global, parent company of Ezubao, who claims senior executives were fully aware of the nature of the business, according to Xinhua China. She is one of 21 suspects arrested on Jan. 14. Most investment projects featured on the company website were fake, a police source said on Sunday. Ding Ning, chairman of Yucheng Global and the main suspect, told Xinhua that Ezubao invented projects to attract funds, paying commission to third parties to act as a fake operator. About 800 million yuan of commissions were paid, according to Ding. "To my knowledge, 95 percent of investment projects on Ezubao were fake," said Yong Lei, a senior manager with the company branch in east China Anhui Province. Funds were transferred from Ezubao via the operator to an associated enterprise of Yucheng Global. (news.financializer.com). As reported in the news.