Report
Beijing police reportedly open criminal investigation into CreditEase
Caixin reports police took criminal measures against several suspects after CreditEase admitted its quasi-fixed-income products had effectively defaulted.
TLDR
CreditEase admitted its quasi-fixed-income products had effectively defaulted and said it may be insolvent, according to Caixin. The outlet reports that Beijing police have launched a criminal investigation into the firm and taken criminal measures against several suspects.
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