An investigation has been launched in China into the alleged corruption of the former deputy prime minister.

China has launched an investigation into the son of former Vice Premier Liu He, financier and founder of Skycus Capital Liu Tianran on suspicion of corruption. This was reported on April 6 by the Financial Times (FT) newspaper, citing sources.

"[The investigation] is related to alleged financial corruption," the publication says.

According to a former colleague of Tianran, he has been under investigation for a long time. Another source told the newspaper that the son of the former deputy prime minister had been detained.

As the FT pointed out, the investigation was initially linked to Ant Group's plans to conduct an initial public offering (IPO) worth $37 billion, but the audit revealed episodes of corruption.

This was reported to Chinese President Xi Jinping, the newspaper added.

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The billionaire and the top manager of his company were charged with fraud and abuse of power.

Earlier, on March 25, it was reported that a Swiss court acquitted former FIFA President Joseph Blatter and former UEFA president Michel Platini on charges of fraud and misuse of funds. The prosecutor's office charged Blatter and Platini with an illegal payment of about $2.2 million. However, the football officials were acquitted in July 2022, after which an appeal was filed against the court's decision.