Business Finland (BF) suspects that an employee of its Chinese subsidiary, FinChi, committed financial misconduct between 2017 and 2018.
According to the public business funding agency, the financial misconduct amounted to about one million euros.
The matter came to the agency's attention in May, Marianne Asikainen, who heads legal affairs, said in a Business Finland press release.
The funding outfit has initiated an investigation internally and in collaboration with an external auditor and Chinese authorities.
Established in 2005, FinChi funds its soft-landing business through service fees charged to its clients. While BF said it purchases services from this subsidiary, including office space rental in Shanghai, it does not directly fund FinChi's operations.
Business Finland has also been involved with legal authorities in the United States, where a former employee is suspected of stealing some four million euros in Finnish taxpayers' money to pay for things like a luxury French vacation, home improvements, country club memberships and private school fees.
