JD.com accuses wealth manager Noah of ensnaring it in years of ‘malicious lawsuits’ as fraud case moves to Shanghai court

JD.com accused Shanghai-based Noah and its subsidiary Gopher Asset Management of entangling it in ‘four years of malicious lawsuits’. The trial is linked to a years-long supply chain financing fraud fabricated by Camsing International. — SCMP

Ecommerce giant JD.com and Noah Holdings, one of China’s largest wealth management firms, have crossed swords in public over a fraud case, shedding light on the sometimes murky world of contractual disputes in the country.

JD.com accused Shanghai-based Noah and its subsidiary Gopher Asset Management of entangling it in “four years of malicious lawsuits” that have tarnished its reputation and led to huge losses, according to a statement published by the Beijing-based firm on its official account on microblogging service Weibo earlier this week.