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China’s internet finance platform Qbao’s CEO turns himself in to police after allegations of illegal fund-raising

Editor’s note: A version of this post by Dou Shicong first appeared on Yicai Global. Zhang Xiaolei, the actual controller and CEO of, the online finance platform also known as Qianbao (钱包网), has surrendered himself to the Nanjing police yesterday and relevant departments are conducting an investigation into the company’s allegedly illegal fund-raising activities. […]