Beijing police detain Yiren Digital chairman after massive product defaults
Police in China have detained a controller of Yiren Digital, a US-listed Chinese digital lender, after two related investment platforms failed to repay mainland investors for over four months.
The Beijing Municipal Public Security Bureau said that it had recently launched an official criminal investigation into relevant companies associated with CreditEase over suspected illegal activities and had arrested controllers, including a 53-year-old male with the surname Tang and a 51-year-old female...
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