China Fortune Land gave $313 million to a wealth manager. Now the developer can't find it
CNN
A Chinese property developer that was once one of the country's largest says it has lost contact with a wealth manager that it gave $313 million. It's just the latest blow to China's embattled real estate sector.
China Fortune Land Development said in a stock exchange filing on Thursday that it entrusted the money to China Create Capital, a company registered in the British Virgin Islands, to invest in fixed-income financial products. It said it expected an annual return of 7% to 10% on its investment.
The Chinese developer says now, though, that it hasn't been able to contact China Create Capital.
The judge who oversaw Donald Trump’s criminal hush money trial in New York on Friday informed the former president’s defense team and prosecutors with the Manhattan district attorney’s office that a comment was posted on the New York State Unified Court Systems’ public Facebook page last week by a poster who claimed to be a cousin of a juror, saying that Trump would be convicted.