End of game for Chinese banker Bao Fan?
This entrepreneur, who died a year ago,
is “resigning”
, the investment bank he founded in 2005, China Renaissance, announced on Friday.
The Hong Kong-listed establishment explains that Bao Fan
“resigned”
from his position as CEO for
“health reasons”
and because he wants
to “dedicate more time to his family affairs”
.
But China Renaissance gives no details on Bao Fan's personal situation, nor on the investigation targeting him.
This 53-year-old entrepreneur simply disappeared in February 2022. The bank he chaired then claimed to be unable to contact him before indicating that he
was “cooperating”
with the authorities in an investigation, without specify the reasons.
Since this date, no information has filtered out on the fate of Bao Fan.
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China Renaissance is a private investment bank specializing in tech investments, with more than 700 employees around the world and is present in China, Singapore and the United States.
She has supervised the mergers, capital increases or IPOs of numerous digital giants such as Tencent, Alibaba, Baidu and JD.com.
In China, people placed under investigation generally end up being convicted.
The disappearance of Bao Fan recalls that of the financial tycoon, Canadian of Chinese origin, Xiao Jianhua, who disappeared in 2017 from a Hong Kong hotel when he was one of the richest men in China .
Xiao Jianhua was sentenced in 2022 to thirteen years in prison for fraud.