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

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.

  • Madagaskar_sky@lemmy.world
    0·
    10 months ago

    What billionaire pays 75%? That was before Nixon i think.

    …a generation or two and a few bucks to the right political group later and middle-lowrr class now shoulder the tax & audit burden.

    But that already happens? They reduced the IRS budget and now all they can do is audit single digit millionaires and middle class people.

    • Che Banana@lemmy.ml
      0·
      10 months ago

      This was my analogy…you could cheer now but regret it later when the government thinks you’re a “problem”