Big Chinese Multi-Billion Dollars Investment Bank Shares went down 20% after the Missing of their CEO Bao Fan.

§  Share price went down by 20% after the missing of founder and CEO Bao Fan.

§  The board is not aware of any information that indicates that Mr. Bao’s unavailability is or might be related to the business and/or operations of the group.

§  China has a history of detaining execs

 

Bao Fan, China’s Beijing-based investment bank chief executive, and chairman went missing causing a total of 20% down in its share price. According to the board of directors, his disappearance is still a mystery and no news is out till now.

Bao Fan, Beijing-based big investment bank Chief gone missing
    (Source Social Media)

According to a Chinese financial news outlet quoted by CNBC, Fan's disappearance is the result of an inquiry into Cong Lin, the former head of China Renaissance's subsidiary firm Huajing Securities.

 

China revival appears to not have commented on Mr. Cong's situation. He is no longer listed as an executive on the company's site or in its most recent interim report.

 

The disappearance of Mr. Bao - one of China's leading tech investors - has again evoked a history of Chinese executives suddenly vanishing for periods of time with no explanation.

 

At least half a dozen billionaires in the past few years have disappeared for periods after reported run-ins with the Communist Party, according to Forbes Magazine.