CreditEase2026-10-12 06:01:00CreditEase-linked firms placed under criminal investigation; past investments included Circle and MatrixportBeijing police have opened a criminal investigation into companies linked to CreditEase, according to a report cited by TechFlowPost on Oct. 12. The Chaoyang branch of the Beijing Municipal Public Security Bureau said the firms are suspected of illegal and criminal activity, and that multiple suspects, including actual controllers surnamed Tang and Zhao, have been placed under criminal coercive measures. The report also said CreditEase Group had fully halted redemptions for quasi-fixed-income products on May 22 and sent an apology letter to relevant investors on Oct. 11. In that letter, the company said several business lines had suffered heavy losses, the market-based disposal value of assets was low, and a preliminary review found the group might be insolvent and facing a sizable repayment gap. Public fundraising records show CreditEase and its affiliated investment funds had previously participated in financing rounds for Circle, Figure, Matrixport and Poko. The company also has a Singapore entity, CreditEase Asset Management (Singapore) Pte. Ltd., which holds a Capital Markets Services licence issued by the Monetary Authority of Singapore for fund management.110
CreditEase2026-10-12 05:10:39Beijing police open criminal case tied to CreditEase; affiliated funds previously backed Circle and FigureBeijing’s Chaoyang branch of the Public Security Bureau said on Oct. 12 that it has opened a criminal investigation into companies related to Chinese fintech firm CreditEase on suspicion of illegal and criminal activity. Police said several suspects, including actual controllers Tang, 53, and Zhao, 51, have been placed under criminal compulsory measures. Authorities also urged investors to cooperate with evidence collection and warned against scams using claims such as "early repayment." CreditEase, founded by Tang Ning, previously operated P2P products, and its Yirendai unit once listed on the New York Stock Exchange. From May 22 this year, the firm fully halted redemptions for its quasi-fixed-income products and started what it called an "orderly exit," involving about RMB 30 billion and affecting nearly 100,000 high-net-worth clients. More than four months after the halt, CreditEase recently sent an apology letter to clients, acknowledging that the group may be insolvent and facing a large repayment shortfall. Public information also shows funds under CreditEase had directly participated in financing rounds for crypto-related projects including Circle, Figure, Poko and Cashmere Wallet. The company also has a Singapore entity, CreditEase Asset Management (Singapore) Pte. Ltd., which holds a Monetary Authority of Singapore license for asset management.30
