58.com stock tumbles with fresh allegations

58.com stock tumbles with fresh allegations

Last week, an investigation by The Paper has discovered that more than 5500 people have been named in cases of fraud involving 58.com in the past year. On Monday, the company’s official Weibo account responded the allegations, but offered no admission of culpability or apology, instead reiterating the various consumer protection and anti-fraud mechanisms that have been put in place over the past calendar year. 

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