A CHINESE EX-BILLIONAIRE WENT MISSING AND HIS CASINO COMPANY’S STOCK PLUMMETED

Time on 25 August reported that Landing International Development Ltd shares plunged after the casino operator said Chairman Yang Zhihui was unreachable.  Yang is said to be a target of investigators looking into ties with China Huarong Asset Management Co, a state-owned bad-debt manager whose former chairman, Lai Xiaomin, is under investigation for alleged corruption.  The news came just 2 weeks after the company’s $1.5 billion Philippine project was thrown into doubt.

http://time.com/5378122/missing-chinese-ex-billionaire-casino-stock-tanks/?src=ilaw

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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