Former Anbang chairman stands trial in Shanghai
chinadaily.com.cn |
Updated: 2018-03-28 10:47
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Wu Xiaohui, former chairman and general manager of Anbang Group, stands trial Wednesday for fundraising fraud and embezzlement at the No 1 Intermediate People's Court in Shanghai.
Wu was placed under investigation last June and removed from his position as head of Anbang in February.
The insurance and investment conglomerate, known for a number of high-profile international acquisitions including the 2015 purchase of New York’s Waldorf-Astoria hotel, was taken over by the country's insurance regulator in February.
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