TMTPOST — Beijing’s Chaoyang Public Security Bureau has opened a criminal investigation into companies affiliated with wealth manager CreditEase and placed several suspects under criminal coercive measures. According to a statement from the “Ping’an Beijing Chaoyang” police account on October 12, the actual controllers, identified as Tang (male, 53) and Zhao (female, 51), along with other suspects, have been subject to the measures. Police have opened online, postal and in-person channels for investors to register claims. The action follows CreditEase’s suspension of redemptions on quasi-fixed-income products in May and a subsequent apology letter in which the group acknowledged substantive default and said preliminary findings indicated possible insolvency.