BEIJING (BLOOMBERG) – A Chinese language personal fairness investor with a pedigree from a few of Wall Road’s high banks has gone lacking after authorities began a probe into allegations of misconduct, Caixin reported, citing folks aware of the matter.
Wang Chaoyong, the founding father of ChinaEquity Funding, was sought by police on Nov 30 in Beijing and hasn’t been seen in public since, based on the report. The 56-year-old was final seen in his workplace within the Chinese language capital’s central enterprise district on the afternoon of Nov 29.
ChinaEquity earlier this yr turned the goal of regulators amid allegations of a spread of improprieties, together with unlawful switch of curiosity, breach of contract and utilizing belongings of traders to fund linked events, Caixin mentioned.
Calls to ChinaEquity’s normal line in Beijing went unanswered.
Mr Wang had beforehand labored at JPMorgan Chase & Co and Morgan Stanley, based on a biography on the agency’s web site.
ChinaEquity was among the many nation’s earliest personal fairness and enterprise capital companies when it was established in 1999, Caixin mentioned. On the finish of 2020, it managed 36 funds in US {dollars} and yuan, totaling 11.2 billion yuan (S$2.4 billion), based on its annual report.
