OneConnect refutes financial fraud accusation

OneConnect Financial Technology Co Ltd, a New York-listed Chinese technology firm that services financial institutions, said on Tuesday all the financial reports it provided have been true and accurate, denying the accusation that the company has engaged in financial fraud and bribery.

Given that the accusation has seriously damaged its business reputation, OneConnect has reported the case to the police and resorted to legal procedures to safeguard its legitimate rights and interests, the company said in a website statement on Tuesday.

The statement came on the heels of media reports that said a letter accusing OneConnect of engaging in a series of misconduct, including financial fraud, false reporting and bribery, has been sent to securities regulators and media organizations.

The company has strictly complied with related laws and regulations, followed clear corporate strategies and maintained a stable business operation without any of the behaviors the company was accused of in the letter, the statement said.

OneConnect is an associate company of Ping An Insurance (Group) Co of China Ltd. The group is reportedly to be under a regulatory investigation into its property investments and banned from selling alternative investment products, though the group said these have been "groundless market rumors".