Beijing police have opened a criminal investigation into companies linked to former Chinese P2P lending giant CreditEase, according to a report cited by Techub News from 21st Century Business Herald. Founder Tang Ning and other suspects have been placed under criminal coercive measures, the report said.
CreditEase had previously suspended redemptions for quasi-fixed-income products and said the group could be insolvent, with a sizable repayment gap. The development adds legal pressure to a firm that had already disclosed repayment strain.
Publicly disclosed portfolio information also shows that the group and its affiliated investment funds had exposure to crypto and fintech companies, including Circle, Matrixport, Figure, Archax and Poko. The item was also referenced by the WuBlockchain account.
Beijing police have launched a criminal investigation into companies linked to former Chinese P2P giant CreditEase, according to 21st Century Business Herald, as cited by Techub News. Founder Tang Ning and other suspects have been placed under criminal coercive measures, the report said.
CreditEase had previously suspended redemptions for quasi-fixed-income products. It also said the group could be insolvent and faced a sizable repayment shortfall.
Public disclosures show that the group and its affiliated investment funds also invested in crypto and fintech. Reported portfolio companies include Circle, Matrixport, Figure, Archax and Poko. The update was carried by Techub News and referenced the 21st Century Business Herald report, with WuBlockchain also mentioned in the source item.
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