Insight and Intelligence on the London & International Insurance Markets 23 Apr 2018

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Anbang founder Wu Xiaohui fights charges in court: reports

  • Bernard Goyder 28 March 2018
  • Anbang Insurance Group founder Wu Xiaohui contested charges of embezzlement and fraud as his trial began in a Shanghai court today.

    Wu, Anbang's former chairman, is accused by Chinese prosecutors of fraudulently raising 65.2bn yuan ($10.4bn) and is on trial for 'economic crime', multiple news outlets have reported.

    A statement from the Shanghai No. 1 Intermediate People's Court on 28 March accused Wu of faking licences to sell insurance investment products and in 2011 of hiding his control over Anbang,...

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