You are here: Home » Companies » News
Business Standard

Anbang's ex-chairman Wu Xiaohui contests charges as trial opens in China

Wu, known for his hard-driving, hands-on approach and single-minded ambition, has been detained since June

Reuters  |  SHANGHAI/BEIJING 

The former chairman of Anbang Insurance Group Co Ltd, Wu Xiaohui, contested all charges against him in a high-profile trial that began in Shanghai on Wednesday, part of Beijing's crackdown on profligate investing by conglomerates. Wu's trial for suspected economic crimes, including fundraising fraud and embezzlement, comes a month after the government seized control of Anbang, owner of New York's iconic Waldorf Astoria hotel and other marquee properties around the world. Founded in 2004, Anbang became one of the most aggressive investors behind a wave of overseas ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, March 28 2018. 23:00 IST
RECOMMENDED FOR YOU