Anbang former chairman charged with $10.5bn fraud

The former chairman of Anbang Insurance Group, Wu Xiaohui, is being accused by a Shanghai court of masterminding a ¥65.2 billion ($10.4 billion) fraud, using unauthorised sales of investment-type policies to prop up the acquisitive company’s capital, according to a March 28 Bloomberg News report.

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Anbang Insurance Group, Wu Xiaohui, Fraud, China, Shanghai, Lawsuit, Asia Pacific

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