Exclusive: Zhongzhi Vice President Xie Among Those Probed Over Group’s Collapse

Some of the suspects under investigation over their involvement in troubled investment giant Zhongzhi Enterprise Group Co. Ltd. were senior staff in four Zhongzhi-linked wealth management firms whose money-losing bets have left investors nursing billions of yuan of losses, sources familiar with the matter told Caixin.

On Saturday night, the public security bureau of the Chaoyang district of Beijing announced they had recently launched an investigation into wealth management firms under the Zhongzhi umbrella, and taken criminal coercive measures against multiple suspects including one surnamed Xie.