The Ministry of Public Security of China has created a website to aid the investigation of Ezubao, which is being charged of swindling over 50 billion yuan ($7.61 billion) from over 900,000 investors.

On Saturday, the website was officially launched to the public with the aim of helping the police gather evidence and establish facts about the largest peer-to-peer lender in the country. As posted on its homepage (ecidcwc.mps.gov.cn), the Ezubao case "involves a large number of investors dispersed across the country, with huge amounts of electronic information."

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Earlier this month, officials of Ezubao's parent company admitted in comments carried by state news agency Xinhua that the firm's operations was a "complete Ponzi scheme." In this type of deceitful investment operation, instead of paying investors the profit earned by the operator (an individual or corporation), the operator pays returns from the capital of new investors. Over 95 percent of Ezubao's online financing services are reported to be bogus.

The scam calls attention to the fast emerging yet liberally controlled wealth management product industry, with a handful of products sold online.

According to China's Banking Regulatory Commission, over 3,600 peer-to-peer platforms raised over 400 billion yuan by the end of November. It further reported that of the firms, more than 1,000 were questionable.

Earlier this month, authorities nabbed 21 people possibly affiliated with Ezubao's operation. Chairman Ding Ning of Yucheng Group, which launched Ezubao in July 2014, was among those arrested. Police officers claim they have already seized and froze all of Ezubao's assets as well as its affiliated companies as part of the ongoing investigation.

TagsEzubao, china, scammers, peer to peer lending