Chinese Bank Says Missing Chairman Is Being Investigated by Authorities

Chinese Bank Says Missing Chairman Is Being Investigated by Authorities
Fan Bao, founder and CEO of China Renaissance, speaks at the WSJD Live conference in Laguna Beach, Calif., on Oct. 25, 2016. Mike Blake/Reuters
Reuters
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BEIJING—China Renaissance Holdings said in an exchange filing on Sunday that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation.

This is the first time the mainland China-based boutique bank has given a reason for the disappearance of its founder—who was reported missing 10 days ago—though no details about the investigation were shared.