FinTech Fincera’s CEO detained by Chinese police for suspected financial crime

From: RegTech Analyst

Li Yonghui, the chairman and CEO of New York-listed FinTech firm Fincera, has been detained by Chinese police under suspicion of illegally accepting public funds.

The Chinese officials also detained his legal representative as well as several other people, Reuters reported.

The Shijiazhuang police in northern Hebei revealed the news on social media. Reuters has been unbale to get comments from Fincera.

Fincera is a provider of online lending and e-commerce services for SMEs and individuals in China. The company was founded in 1994.

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