Wang Chaoyong Released on Bail Ahead of Trial, Caixin Reports
(Bloomberg) -- Former Wall Street banker Wang Chaoyong was released on bail ahead of his trial on Thursday, Caixin reported on Saturday, citing people familiar with the matter.
The private equity investor, who founded ChinaEquity Investment Co. in 1999, posted on Friday a series of 10 social media updates relating to news of his company, Caixin said, citing the same sources.
Wang hasn’t been seen in public since Nov. 30 after Chinese authorities started a probe into allegations of misconduct.
Caixin also reports, citing a company filing to the National Equities Exchange and Quotations on Friday, that Wang has resumed his duties in ChinaEquity and the company is operating normally. Wang has cooperated with the police since he disappeared from public view, the filing also said.
Wang had previously worked at JPMorgan Chase & Co. and Morgan Stanley, according to a biography on the firm’s website.
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