Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.
He stepped down “for health reasons and to spend more time on his family affairs,” the bank said in a statement.
Mr Bao’s unexplained disappearance in February last year shocked China’s business and investing community.
Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation.
In its latest filing, the company said co-founder, Xie Yi Jing, will assume Mr Bao’s most senior roles.
This is not suspicious at all. Just regular business man doing business man things. Move along citizen.
I’m not even mad about it. Maybe this treatment of billionaires will go global.
Isn’t this like an evil being devoured by a greater evil? It’s not like the power and money is being returned to the people.
I know China is the boogie man, and truthfully they do some foul stuff, but if you look at their infrastructure improvements over the past 40 years I’d say they’re doing a hell of a lot more of returning wealth to the people than western societies.
Elaborate on infrastructure improvements? China’s massive property crisis, ageing population, and government that is so iron fisted it gets offended by other countries existing and 64 as a sequence of numbers. Plus the leadership just elected itself extra terms. China is a sidegrade at best.
After all, it happens frequently
I hope he found a small village somewhere, and learned that a simple life caring for those around you is better than amassing tremendous wealth.
There’s a 0% chance of this happening - if the CCP is mad enough at him to take his money, they’ll also lock him up forever or execute him.