(Bloomberg) Chinese police have arrested DouYu International Holdings Ltd.’s founder Chen Shaojie, the latest in a series of executive detentions that have chilled the country’s giant private sector.Most Read from BloombergSam Altman, OpenAI Board Open Talks to Negotiate His Possible ReturnBinance Pleads Guilty, Loses CZ, Pays Fines to End Legal WoesSam Altman Returns as OpenAI CEO in Chaotic Win for MicrosoftNvidia Fails to Satisfy Lofty Investor Expectations for AI BoomIsrael and Hamas Agre
Chinese Game-Streaming Mogul Arrested in Latest CEO Probe bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
China s business tycoons are increasingly at risk as the government cracks down on powerful magnates who fail to align with the Communist Party s agenda. The latest case is that of Hui Ka Yan, founder of Evergrande, which is struggling with over $300 billion in liabilities. Hui has been placed under police surveillance and is being investigated over suspected illegal activities. This trend of disappearing business executives has become common in recent years, with high-profile figures such as Jack Ma and Ren Zhiqiang also vanishing.
(Bloomberg) A senior banker at Nomura Holdings Inc. has been barred from leaving China in a move connected to a long-running investigation of a top dealmaker in the country, the Financial Times reported.Most Read from BloombergChinese Gold Buying Is Driving a Paradigm Shift in BullionIndia-Canada Clash Should Be a Wakeup CallWells Fargo Preps for Wealth Battle After $1 Billion TurnaroundIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesCorzine Plans to Shut Hedge F
Charles Wang Zhonghe, the chair of investment banking for China at Nomura Holdings in Hong Kong, has been prohibited from leaving China as part of an ongoing investigation into a top dealmaker, according to sources. Wang is not detained but is restricted from exiting the country. Nomura and Wang have not commented on the matter.