CompaniesBIO

China Renaissance said this month it was unable to contact its founder and CEO Bao Fan. This picture is from 2016. Bloomberg | Bloomberg | Getty Images BEIJING — Missing Chinese investment banker Bao Fan is cooperating with a government investigation, his firm China Renaissance said in a filing Sunday. The company's Hong Kong-listed shares have plunged 29% since the firm said on Feb. 16 it was unable to reach Bao. He is China Renaissance's controlling shareholder, chief executive officer and founder , among other roles. "The Board has become aware that Mr. Bao is currently cooperating in an investigation being carried out by certain authorities in the People's Republic of China," China Renaissance said in a filing with the Hong Kong stock exchange Sunday. In both filings this month, China Renaissance said its business continued to operate normally. Its shares hit a record low of 5 Hong Kong dollars (64 cents) on Feb. 17 but have since recovered slightly. Stoc...

FTX co-founder Sam Bankman-Fried is escorted out of the Magistrate's Court on December 21, 2022 in Nassau, Bahamas.  Joe Raedle | Getty Images FTX co-founder Gary Wang and former Alameda Research co-CEO Caroline Ellison both pleaded guilty to federal charges in the Southern District of New York, U.S. Attorney Damian Williams said in a message Wednesday. Simultaneously, the Securities and Exchange Commission released a civil complaint against them both, alleging that they were involved "in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform co-founded by Samuel Bankman-Fried and Wang." Ellison was singled out in the SEC complaint for engaging in artificial manipulation of FTT, FTX's self-issued token, as part of a broader effort to boost Alameda Research's available collateral for lending. Alameda Research was linked to multiple loans from major crypto firms that have now filed for bankruptcy protection, including Voyager Digital...