Former Wall Street banker goes missing in China amid probe: report
Wang Chaoyong, founder of ChinaEquity Investment Co., reportedly hasn’t been seen in public since Nov. 30.
A Chinese private equity investor who has worked at some of Wall Street’s top banks is missing after authorities started a probe into allegations of misconduct, according to reports.
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Wang Chaoyong is the founder of ChinaEquity Investment Co. His situation was disclosed by the Chinese media group Caixin and reported by Bloomberg News.
Earlier this year, ChinaEquity became the target of regulators amid allegations of a range of improprieties. The allegations included illegal transfer of interest, breach of contract and using assets of investors to fund connected parties, according to the Caixin report.
Wang was sought by police on Nov. 30 in Beijing and reportedly hasn’t been seen in public since.
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Wang was last seen in his office in the Chinese capital’s central business district on Nov. 29.
ChinaEquity was among the country’s earliest private equity and venture capital firms when it was established in 1999.
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Wang had previously worked at JPMorgan Chase & Co. and Morgan Stanley, according to a biography on the firm’s website.