Anbang’s former chairman on trial in $10 billion fraud case

Wu Xiaohui, former chairman of Anbang Insurance Group, the Chinese insurer that owns the Waldorf Astoria New York hotel, stood trial on Wednesday on charges of fraudulently raising $10 billion and embezzlement. The trial concluded after nearly 10 hours at Shanghai No 1 Intermediate Court. No verdict was given. Prosecutors charged Wu, 51, with fraudulently raising…



mohamed_hassan / Pixabay

LEAVE A COMMENT


Saved Articles
X
TextTExtLInkTextTExtLInk

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required

Opt out of occasional 3rd party offers


Congrats! Are you a smart person? We have a limited time offer for sophisticated and loyal readers like yourself.

Sign up today and get three months free

Use coupon code VIP19 or click on the button below

Limited time offer only expires 8/31/2019 or next 30 now just 2 subscribers whichever comes first – please do not share this discount with others

 

0