Chinese group investing in Myrtle Beach accused of fraud in China

Chinese group investing in Myrtle Beach accused of fraud in China

MYRTLE BEACH, SC (WMBF) - A local group of investors with possible ties to a parent company in China disputed claims it's related to an overseas fraud investigation.

The claims of fraud are focused on one lending group in China, called Nanjing Easy Richness, but stem back to the parent company called Yiqian Funding. The chairman of the company is also the co-owner of local Founders Group International, but the company maintained this is all far from the truth.

On a news release on its own website, Nanjing Easy Richness officials called the probe a routine inspection by the Chinese, pointing out factual errors by the media.

Nick Dou, a Chinese investor with Founders Group International, said those factual errors include tying the Grand Strand into it all.

"That's absolutely wrong," Dou said. "I'm going to say the dirty word, that's bulls---."

Dou said not only are the reports false, but they have no connection to investments made around Myrtle Beach. He said his company is not directly tied to Yiqian Funding.

He also pointed out this is at just one of 500 companies under Yiqian Funding's watch.

Dou said his 22 Grand Strand golf courses and 1,000 employees have nothing to worry about.

"Founders is OK right now. Everything with the business is OK. So far as I know, Yiqian, the company in China, is OK. Only, as I said, one location, one office, was regularly checked," Dou said.

Grand Strand leaders pushing for more Chinese investors are not deterred by the claims either.

Via text, Myrtle Beach Mayor John Rhodes said there are no changes to future investment plans.

In a news release Friday afternoon, the Myrtle Beach Area Chamber of Commerce said it hopes this matter, "proves to be nothing more than a temporary distraction with no impact on FGI's local business operations."

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