China detains CEO of U.S.-listed P2P firm Fincera for suspected financial crime
13/12/2019 10:20
BEIJING, Dec 13 (Reuters) - Chinese police on Friday
detained the chairman and chief executive officer of New
York-listed Fincera Inc YUANF.PK for suspected financial
crime.
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. urn:newsml:reuters.com:*:nL4N24Y13Q
(Reporting by Cheng Leng and Ryan Woo)
((cheng.leng@thomsonreuters.com; +8610-5669-2129;))