this post was submitted on 03 Feb 2024
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Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.

He stepped down "for health reasons and to spend more time on his family affairs," the bank said in a statement.

Mr Bao's unexplained disappearance in February last year shocked China's business and investing community.

Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation.

In its latest filing, the company said co-founder, Xie Yi Jing, will assume Mr Bao's most senior roles.

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[–] [email protected] 66 points 9 months ago (3 children)

This is not suspicious at all. Just regular business man doing business man things. Move along citizen.

[–] [email protected] 26 points 9 months ago (2 children)

I'm not even mad about it. Maybe this treatment of billionaires will go global.

[–] [email protected] 20 points 9 months ago (1 children)

Isn't this like an evil being devoured by a greater evil? It's not like the power and money is being returned to the people.

[–] [email protected] 6 points 9 months ago (2 children)

I hope he found a small village somewhere, and learned that a simple life caring for those around you is better than amassing tremendous wealth.

[–] [email protected] 8 points 9 months ago (1 children)

That would be a happy ending for him but I'm guessing he got Mao's old room at the re-education center.

[–] [email protected] 6 points 9 months ago

I dunno about it being a happy ending. There have been a few documentaries on rural China and it seems like some rough living.

[–] [email protected] 2 points 9 months ago

There's a 0% chance of this happening - if the CCP is mad enough at him to take his money, they'll also lock him up forever or execute him.

[–] [email protected] 4 points 9 months ago

After all, it happens frequently