Bao Fan's disappearance in February last year shocked China's business and investing community.

Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.

He stepped down “for health reasons and to spend more time on his family affairs,” the bank said in a statement.

Mr Bao’s unexplained disappearance in February last year shocked China’s business and investing community.

Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation.

In its latest filing, the company said co-founder, Xie Yi Jing, will assume Mr Bao’s most senior roles.

  • ickplant@lemmy.world
    141·
    9 months ago

    Your reason not to tax and audit billionaires is “we’ll get taxed and audited too?” Newsflash, we already do.

    • Che Banana@lemmy.ml
      23·
      9 months ago

      Ok so you misunderstood the point. I was NOT saying don’t tax the wealthy.

      If the Government disappears someone, even if it’s a popular thing, those with wealth will eventually get the focus directed at the mid/poor…the example I made was the way taxes used to be more proportional for the wealthy.

      So if there is no accountability, anyone in disfavor of whomever is in power can just be “dealt with”.