China, Inc Quietly Takes Down Criminal Financial Cabal

 

Some of China’s richest and most powerful men have mysteriously vanished

The financial giant Anbang Insurance Group Co. announced Wednesday that its chairman, Wu Xiaohui, was stepping aside temporarily for “personal reasons” and that he had authorized “relevant senior executives to continue running the business.”

The announcement, which spurred a decline in stocks in which Anbang has significant investment, came just hours after the independent Chinese financial magazine Caijing reported that authorities had detained Wu.

The story was later deleted from the magazine’s website, but the BBC reported that police had taken Wu away from the Anbang offices in Beijing on Thursday.

Continue reading China, Inc Quietly Takes Down Criminal Financial Cabal

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