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Liu Tianran, who established the investment firm Skycus Capital in 2016 and served as a chair, has been subject to investigation and lose his freedom, FT cited one of the former Liu colleagues in Skycus. FT said that it first confirms that the financer Liu is a son.
The investigation, called more than suspected corruption, was triggered by Liu Tianran’s relationship with an IPO employed by Ant Group, which was stopped, FT said, FT cited one of the people.
Officials found unrelated cases of corruption during the investigation, FT said. According to the newspaper, President Xi Jinping was given a report on claims.
Two calls to the spokesperson’s office for the Central Commission became unanswered out of business hours for discipline inspection of the Communist Party of China and did not go through a fax to the office. Skycus was not immediately available for comments.
Liu Tianran stepped as a chair in Skycus in April 2017, and his father later made it in the 25 -member Polit Bureau of the Chinese Communist Party that year, FT cited the trade record. After that, he continued to work on deals for the firm, FT said.
Skycus accepted funds from tech companies like TENCENT and JD.com, and also invested in their spoon-off businesses, said by paper.
Such more stories are available Bloomberg.com