March 28, 2018 / 2:36 AM / a month ago

Trial of Anbang's former chairman starts in Shanghai

BEIJING, March 28 (Reuters) - The trial of the former chairman of Anbang Insurance Group Co Ltd Wu Xiaohui for alleged economic crimes started in Shanghai on Wednesday, according to a statement from the Shanghai No. 1 Intermediate People’s Court.

The case comes a month after the Chinese government seized control of the insurer and announced Wu had been prosecuted for economic crimes, as Beijing cracks down on big-spending conglomerates and financial risk. (Reporting by Josephine Mason and Fang Cheng; Editing by Michael Perry)

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