Chinese police detain several staff of Evergrande wealth unit

Evergrande Financial Wealth Management Co, based in Shenzhen, is a wholly-owned Evergrande unit established in 2015. - PHOTO: AFP

BEIJING (Bloomberg): Chinese authorities detained some staff of China Evergrande Group’s money management business, a sign that the saga around the defaulted developer at the heart of the nation’s property crisis has entered a new phase involving the criminal justice system.

Police in the southern city of Shenzhen said the actions were taken "recently” in a statement on social media Saturday night. They only identified one of the detainees by the last name Du. No charges were disclosed and the statement didn’t say how many people were in custody.