The office building of Zhongrong International Trust, a trust company partially owned by Zhongzhi Enterprise Group, in Beijing, China August 22, 2023.
REUTERS/Florence Lo Acquire Licensing RightsSHANGHAI, Nov 25 (Reuters) - Beijing police are investigating suspected crimes committed by Zhongzhi Enterprise Group, a leading Chinese wealth manager, according to a social media post published by the Chaoyang Public Security Bureau on Saturday.
Zhongzhi did not immediately reply to an email request for comment after normal business hours on Saturday.
Zhongzhi apologised to its investors in a letter issued on Wednesday that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion), compared to estimated total assets of 200 billion yuan.
The post did not specify what crimes Zhongzhi or the individuals were suspected of having committed.
Persons:
Florence Lo, Zhongzhi, Casey Hall, Mark Potter
Organizations:
International Trust, Zhongzhi Enterprise Group, REUTERS, Rights, Chaoyang Public Security, Thomson
Locations:
Beijing, China, China's