China Seizes Control of Anbang; Dealmaking CEO to Be Prosecuted for Fraud

China’s government will seize temporary control of Anbang Insurance Group Co. and prosecute founder Wu Xiaohui for alleged fraud, cementing the downfall of a politically connected dealmaker whose aggressive global expansion came to symbolize the financial overreach of China’s debt-laden …

from News – Insurance Journal http://ift.tt/2EZYw5f
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