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HONG KONG: Trading in shares of China Huarong Asset Management Co Ltd and two of its units were suspended on Wednesday after Beijing said it was investigating the chairman of the country's biggest manager of distressed assets for suspected graft.
BEIJING: China Huarong Asset Management Co Ltd is set to be helmed by a senior bank regulatory official, who will replace the current chairman under investigation for alleged corruption, sources said.
SHANGHAI: Chinese authorities arrested Lai Xiaomin, who once oversaw more than US$280bil in assets in his role as chairman of China Huarong Asset Management Co.
A FORMER chairman of an asset management company in China, who has been detained for corruption, is said to have had affairs with over 100 women.
BEIJING (AFP): The former chairman of one of China's largest state-controlled asset management firms was sentenced to death Tuesday for soliciting US$260mil (more than RM1bil) in bribes, corruption, and also bigamy.