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Caixin: Qian Fenglei and Hengfeng International Under Investigation for Allegedly Selling Unapproved Collective Investment Plans in Hong Kong
Summary: According to Caixin, Qian Fenglei, considered a friend of Jack Ma, and his controlled company Hengfeng International, are under investigation for allegedly selling multiple unapproved collective investment plans to the public in Hong Kong. Thousands of people have suffered financial losses, with some reporting to mainland public security agencies. Victims are urging the Hong Kong ...
According to Caixin, Qian Fenglei, considered a friend of Jack Ma, and his controlled company Hengfeng International, are under investigation for allegedly selling multiple unapproved collective investment plans to the public in Hong Kong. Thousands of people have suffered financial losses, with some reporting to mainland public security agencies. Victims are urging the Hong Kong Securities and Futures Commission to intervene. Caixin's investigation found that a large number of mainland Chinese individuals participated, with one sales group exceeding 120,000 people. Investment figures include Cao Guowei, Cai Wensheng, Zeng Fanzhi, Li Lin, Shen Guojun, Yu Guoxiang, Lin Jiali, Wu Guangming, and others.
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Link: Caixin: Qian Fenglei and Hengfeng International Under Investigation for Allegedly Selling Unapproved Collective Investment Plans in Hong Kong [Copy]
