A police inquiry into the operations of peer-to-peer lending platform operator Yucheng International Holdings have found evidence that the firm illegally raised RMB40 billion (US$6.06 billion) from 800,000 users, Caixin reported, citing unnamed sources. Investigators were said to have detained executives at the firm including chairman Ding Ning following a January 11 announcement that authorities were probing the firm’s lending platform Ezubo and several other subsidiaries. Yucheng was known to have sent nearly RMB10 billion to Myanmar’s conflict-torn Wa State, which borders Yunnan province, but the sources said the company had only spent RMB1 billion of that on its stated investment target of the state’s free-trade zone.