China Says Anbang’s Founder Defrauded Investors of $10 Billion

[alpha]

 

It wasn't long ago people were pumping this company up as the "Berkshire Hathaway of China" etc... Now in a matter of months it has gone from big overseas acquisitions to one of China's largest financial crime trials with allegations of fraud.

 

https://www.nytimes.com/2018/03/28/business/china-anbang-wu-xiaohui.html

[Morgan]

That dude is gonna have a bad day.

[BG2008]

It's funny how similar this is to the Japanese acquisition of US RE property at market peaks.  History doesn't repeat itself but it often rhymes.