Chinese financier Fan Bao, who went missing last month, has been detained in connection with the investigation of a former senior executive at the investment bank he founded
, has been detained by authorities in mainland China in connection with a corruption investigation targeting a former senior executive at the investment bank he founded, according to people familiar with the matter., disclosed on Feb. 16 that it had been unable to contact Mr. Bao, who serves as the bank’s chairman and chief executive. On Sunday, it said in a regulatory filing that it had since discovered Mr. BaoMr.
Before Mr. Bao’s detention, authorities had spoken to him several times over a period of months regarding the probe of Mr. Cong, the people said. Investigators asked Mr. Bao about a suspected quid pro quo involving a loan Mr. Cong helped arrange for China Renaissance before joining the firm, but Mr. Bao didn’t provide them with all the information they sought, according to some of the people., or “retention in custody,” according to the people.
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WSJ News Exclusive | Missing Chinese Banker Fan Bao Detained as Part of Corruption ProbeFinancier Fan Bao, who went missing last month, has been detained by authorities in mainland China in connection with the investigation of a former senior executive at the investment bank he founded.
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