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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. The notice identified two individuals by their surnames, Tang and Zhao, aged 53 and 51, respectively, as actual controllers who had been subjected to criminal…
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