BEIJING : The detention of Bao Fan, chairman of investment bank China Renaissance Holdings, has been extended for another three months beginning May 7, Chinese financial publication Economic Observer reported on Wednesday, citing sources.
Among the agencies handling the case are the international cooperation bureau of the Central Commission for Discipline Inspection, China's anti-graft watchdog, and anti-graft authorities in the capital city of Beijing, per the report, identifying Bao's alleged crime as organizational bribery.The bank has said it would delay its audited annual results and suspended its stock trading from April 3, after mainland authorities took away its chairman to co-operate with an investigation.
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