Yucheng Technologies (YTEC US)

Yucheng Technologies Ltd. offers information technology services to banks in the People’s Republic of China.  The Company offers Internet banking capabilities and multi-channel software.

The company went private in Dec 2012.

In 2016, the online P2P lender operated by Yucheng’s subsidiaries was revealed to be a $7.6b Ponzi scheme. 10 company executives were convicted, with chairman Ding Ning receiving a lifetime sentence and a RMB 100m fine. Yucheng Global and Anhui Yucheng were ordered to pay fines of 1.8 billion yuan ($278 million) and 100 million yuan.

Yucheng Technologies: 2008 Annual Report, 30 Jun 2009

China Daily: 26 jailed over $7.7b China P2P fraud, 12 Sep 2017

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