‘Wall Street Chinese Prodigy’ Investigated Under China’s Private Equity Fund Regulations

Caixin, a Chinese financial media, reported the arrest of Wang Chaoyong, 56, through multiple sources on Dec. 16. The same day ChinaEquity Group also announced that it has neither been able to contact  Wang, who serves as the company’s chairman, nor received any notice from the public security and judicial authorities. The company issued a stock suspension statement (pdf) saying that exchanges would be suspended from that day until Dec. 29.