BEIJING (Reuters) - The trial of the former chairman of Anbang Insurance Group Co Ltd [ANBANG.UL] 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. [nL4N1QD1C7]
Reporting by Josephine Mason and Fang Cheng; Editing by Michael Perry