FILE PHOTO: Chairman of Anbang Insurance Group Wu Xiaohui attends the China Development Forum in Beijing, China, March 18, 2017. REUTERS/Thomas Peter/File Photo
BEIJING: Former Anbang Insurance Group Co chairman Wu Xiaohui (pic) is accused of masterminding a 65.2 billion yuan (US$10.4bil) fraud, using unauthorised sales of investment-type policies to prop up the acquisitive company’s capital in a Shanghai court.
The charges in court statements, which offer an unprecedented glimpse into Anbang’s inner workings, allege wrongdoing going as far back as 2007.
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