Chinese insurer Anbang’s ex-boss jailed 18 years for fraud

/ 10:44 AM May 10, 2018

A Chinese court sentenced Thursday the former head of troubled Anbang Insurance Group to 18 years in prison for fraud and other crimes, Xinhua news agency said, after a trial that accused him of stealing more than $10 billion.

Wu Xiaohui was toppled as the head of Anbang last year and China’s insurance regulator announced an unprecedented takeover of the company in February, as the government moves aggressively to prevent heavily-indebted large private companies from collapsing. /muf


Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: China, crime, Debt, economy, Insurance
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2019 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.