Executives at Fosun-owned online dating giant Baihe Jiayuan arrested for embezzlement after report of ‘missing’ managers
- Fosun’s anti-graft department found clues unnamed executives at Baihe Jiayuan abused their position to commit crimes, spokesperson says
- Baihe Jiayuan operates China’s biggest online matchmaking and wedding platforms with 310 million registered users
Fosun International said executives at its Chinese online-dating subsidiary have been arrested for alleged financial embezzlement, following local media reports about the sudden disappearance of top managers.
“Certain executives at Baihe Jiayuan have been arrested by the police,” the person said, without disclosing the names or number of executives involved. The board has authorised relevant personnel to exercise their corresponding duties, and “a new management team will take office soon”, according to the statement.
After the news was picked up by local media, the online dating firm responded by saying certain executives were “cooperating with the judicial authorities for personal reasons”.
Baihe Jiayuan runs China’s two biggest matchmaking and wedding platforms, boasting 310 million registered users, according to Fosun’s website. The firm did not immediately respond to a separate request for comment on Tuesday. Fosun stock climbed 2.2 per cent to HK$6.89 (US$0.88) in Hong Kong.
Baihe Jiayuan is a merger of two Chinese online dating platforms called Baihe.com and Jiayuan.com, leading to the privatisation of Nasdaq-listed Jiayuan in 2016. Fosun bought about 70 per cent of the merged entity in 2018 for 4 billion yuan (US$593 million).