Missing chairman cooperating with authorities in probe, says Chinese bank

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BEIJING: China Renaissance Holdings said in an exchange filing on Sunday that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation. This is the first time the mainland China-based boutique bank has given a reason for the disappearance of its founder – who was reported missing 10 days ago – though no details about the probe were shared.
“The board would like to reiterate the business and operations of the group are continuing normally,” the bank said.
Reuters previously reported, citing sources, that authorities took Bao away earlier this month to assist in a probe into a former colleague, Cong Lin, the firm’s former president. Fan’s disappearance is the latest in a series of cases of high-profile Chinese executives going missing with little explanation during a sweeping anti-corruption campaign spearheaded by President Xi Jinping.

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