Insurance firm boss to stand trial for fraud
Print Edition
THE former general manager of Shanghai Fanxin Insurance Agency Co will stand trial on charges of selling 500 million yuan (US$80 million) worth of unauthorized insurance products.
The Shanghai No. 1 Intermediate People’s Court has accepted the case against Chen Yi and her accomplice Jiang Jie, a consultant with the firm.
Chen, 35, was apprehended in Fiji on August 19, 2013 after allegedly fleeing with her illicit gains. She was charged in November.
Fanxin is the largest insurance company in Shanghai.
Meanwhile, the case against Gu Tiquan, CEO of Shanghai Hudong-Zhonghua Shipyard, was passed to prosecutors yesterday, the city’s discipline inspection commission said.
The agency said it had investigated Gu for “serious violations” and concluded he was a crime suspect. It did not elaborate.
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