World
21 arrested in China over $7.6 billion scam
Beijing : Chinese authorities have arrested 21 people involved in an online finance scheme in which some 900,000 investors lost about 50 billion yuan ($7.6 billion), the media reported on Monday.
 
The 21 worked for Ezubao, China's largest such online financing business. The platform was launched in July 2014 by Yucheng Group, which is based in Anhui province, the People's Daily reported. 
 
After noticing some abnormal activities on the platform at the end of 2015, the authorities launched an investigation into the company.
 
Ding Ning, chairman of Yucheng, and 20 others were arrested on January 14.
 
Police found that Yucheng and its affiliates did not have sufficient cash flow to operate normally as of December 5. Also, the company had transferred some of its capital and destroyed certain evidence, and some senior people in the company have fled.
 
Many investors were attracted by the high returns Ezubao promised. 
 
The platform offered six investment products, offering annual interest rates of between 9 and 14.6 percent, much higher than for similar products offered by banks.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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'World's best chef' Violier found dead
London : Chef Benoit Violier, whose Swiss restaurant was named the best in the world in December 2015, has been found dead at his home, the media reported on Monday.
 
Violier, 44, ran the Restaurant de l'Hotel de Ville in Crissier, near the city of Lausanne, Switzerland, BBC reported.
 
It earned three Michelin stars and came top in France's La Liste ranking of the world's 1,000 best eateries.
 
Swiss police said Violier, who was born in France, appeared to have shot himself.
 
The Swiss news website 24 Heures said that Violier had been due to attend the launch of the new Michelin guide in Paris on Monday.
 
His death comes some six months after that of Philippe Rochat, his mentor and predecessor at the Restaurant de l'Hotel de Ville.
 
Having worked at the restaurant since 1996, Violier took it over along with his wife Brigitte in 2012, before obtaining Swiss nationality.
 
A keen hunter, he was known for signature dishes including game, and produced a weighty book on game meat last year.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Kanchanjunga Express starts plying from Assam
Agartala : The Silchar-Sealdah Kanchanjunga Express began operations on Monday, meeting a long-standing demand of the people to link southern Assam with adjoining states including Tripura.
 
North Frontier Railway spokesman Jyoti Sharma said in a statement that the tri-weekly train will also pass through Guwahati, Assam's main city.
 
On the first day, the 19-coach train left Silchar in southern Assam at 9 a.m.
 
It will halt at 34 stations including Guwahati, New Bongaigaon, New Coochbehar, New Jalpaiguri, Malda Town, Bolpur Shantiniketan and New Alipurduar. It will cover 1,345 km in 32 hours.
 
Southern Assam, comprising four important districts, was brought on the broad gauge rail map on November 21 last year when Railway Minister Suresh Prabhu flagged off the inaugural passenger train.
 
The 437-km Lumding-Silchar and Badarpur-Agartala gauge conversion work was sanctioned in 1996. It was declared a national project in 2004, thereby ensuring uninterrupted funding from the general budget.
 
In the first phase, the 210-km Lumding-Silchar gauge conversion project was completed early last year, and in the second the 227-km Badarpur-Agartala gauge conversion was undertaken. It was to be completed in March but was completed three months earlier.
 
The Tripura capital is now connected with the country's broad gauge railway network through Guwahati -- a distance of around 600 km.
 
This railway connectivity is the lifeline for millions in Tripura, western Manipur and eastern Mizoram besides southern Assam.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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