In May 2020, Sichuan Trust disclosed about a 20 billion yuan deficit. Later, the deficit was estimated to be as much as 30 billion yuan. In 2021, police arrested Liu Canglong, Sichuan Trust's majority shareholder, who was a mining and real estate tycoon and was once the richest man in
Sichuan province for embezzling trust funds. In January, several investors contacted
China's National Administration of Financial Regulation to find out what assets were underlying the investments but were told that the information was a "state secret". ==References==