Several individuals from Wanda Group, including Senior Vice President Liu Haibo, were reportedly taken into custody by public security authorities due to alleged corruption-related issues, as reported by the Chinese news outlet thepaper.cn on Tuesday, citing sources.
The specific reasons for their detention are currently unknown, according to the report.
Public information indicates that Liu joined Wanda Group in 2010 and had been responsible for Wanda Group's investment business prior to his detention.
Since July of this year, Wanda Group has continued to attract market attention due to its debt pressure.
According to the company information platform Tianyancha, Wang Jianlin recently transferred 49% of the equity of Beijing Wanda Investment to Shanghai Ruyi Television.
Informed sources from thepaper.cn stated that the proceeds from this sale will be utilized to repay $400 million in principal due on July 23.
Furthermore, as reported by Bloomberg, Wanda Group managed to make a timely payment on the $400 million bond at the last minute and held a meeting with certain overseas creditors on July 26 in an effort to alleviate concerns regarding the group's operations.
