China probes P2P giant CreditEase, founder faces police action

Chinese authorities have opened a criminal investigation into companies linked to former peer-to-peer lending giant CreditEase, with founder Tang Ning and several other suspects placed under compulsory criminal measures as the group faces a major investor repayment crisis. According to the Beijing Municipal Public Security Bureau’s Chaoyang Branch, which issued a police notice on October 12, investigators recently opened a case involving suspected illegal activities at companies associated with CreditEase, known in Chinese as Yixin.

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