Caixin
Apr 28, 2014 03:57 PM

Gansu Trust Chief under Investigation

(Beijing) – Shao Yubin, deputy chairman of Gansu Trust Co. Ltd., has been placed under investigation by the provincial people's procuratorate in the northwestern province of Gansu, sources with knowledge of the matter said.

China Everbright Group, one of the country's largest financial conglomerates, is on course to buy a controlling stake in the trust company. The allegations against Shao remain unclear, said a source who asked not to be named.

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