Company in Fraud Probe 'Sent Money to War-Torn Area in Myanmar'

(Beijing) – A financial holding company facing an investigation for bilking investors of billions of yuan sent money to a war-torn area of Myanmar and it may have come from a subsidiary's lending website that has been closed, people with knowledge of the probe into the firm say.

Yucheng International Holdings Group Ltd. and a subsidiary that ran a peer-to-peer lending platform called Ezubo are at the center of a coordinated fraud investigation by police in Beijing and Shanghai and the provinces of Anhui, Guangdong and Yunnan.