China billionaire Wu Xiaohui reportedly under probe
China / June 13, 2017

Chairman of Anbang Insurance taken away for investigation, sources say, amid graft crackdown on financial sector Wu Xiaohui, the chairman of Anbang Insurance who married a granddaughter of former paramount leader Deng Xiaoping, was taken away by mainland authorities for investigation, the Chinese language magazine Caijing reported on Tuesday, citing unidentified sources.  This article is powered by DBestInfo Wu, one of the most high-profile mainland billionaires, has been involved in a war of words with the leading magazine Caixin and its editor-in-chief, Hu Shuli, in the last few weeks about whether Wu and his company, Anbang, had been involved in ­irregularities. Caijing reported on Tuesday that the China Insurance Regulatory Commission, the regulator of Anbang, had held a meeting with its executives on Saturday and informed them that Wu had been taken away, although detailed reasons were not given. Anbang did not immediately reply to a request for comment. A source who was familiar with the matter told the South China Morning Post that Wu had been “assisting relevant investigations” for a while, but had always managed to return to his office or home after a few hours of questioning. But Wu hadn’t returned since he was taken away at…