By Bloomberg News | Updated on Oct 12, 2026 at 06:57 AM
Beijing police opened a criminal investigation into companies affiliated with Chinese wealth management firm CreditEase over suspected illegal financial activities.
Authorities have placed several individuals linked to the firm under criminal compulsory measures, including the company’s actual controller, a 53-year-old man with the surname Tang, and senior executive Zhao, 51, according to a statement from the Chaoyang branch of the Beijing Municipal Public Security Bureau.
Police didn’t specify the exact charges, scale of alleged misconduct, or total funds involved. Authorities said they are gathering evidence, recovering assets and advancing judicial proceedings, while urging affected investors to report details through official legal channels.
The probe marks a sharp escalation for the Beijing-based firm, founded in 2006 by Tang, a former investment banker. CreditEase operates businesses spanning wealth management, microfinance and fintech. Its online lending unit, Yiren Digital, went public in New York in 2015.
In May, CreditEase announced it would halt redemptions on fixed-income wealth products and execute an “orderly exit,” promising a plan within four to six weeks. Four months later, the firm has yet to disclose a comprehensive repayment schedule or expected recovery rates for investors.
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