Posted inChina

China seizes control of Anbang Insurance Group, prosecutes ex-boss for ‘economic crimes’

By Patrick Baert with Dan Martin in Shanghai China took over Anbang Insurance Group for a year on Friday and said its former chairman faces prosecution for “economic crimes”, in the government’s most drastic move yet to rein in politically connected companies whose splashy overseas investments have fuelled fears of a financial collapse. The highly unusual […]