steven36 Posted December 13, 2019 Share Posted December 13, 2019 BEIJING (Reuters) - Chinese police on Friday detained the chairman and chief executive officer of New York-listed Fincera Inc (YUANF.PK) for suspected financial crime. FILE PHOTO: Li Yonghui, chairman of Hebei province's largest peer-to-peer (P2P) lender Fincera, speaks to members of the media following a promotional event in Beijing, China August 21, 2019. Li Yonghui, a Canadian national, is suspected of illegal acceptance of public funds, Shijiazhuang police in northern Hebei said in a post on its official social media account. Police said they also detained Fincera’s legal representative Shen Hui and several other people. The company did not answer phone calls from Reuters seeking comment. Fincera, once the largest peer-to-peer lending platform in Hebei province by loans, was caught in a regulatory crackdown of the country’s P2P firms and forced to close, according to documents acquired by Reuters in August. Source Link to comment Share on other sites More sharing options...
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