This page has been archived and commenting is disabled.

"High Profile" CEO Of China Brokerage "Disappears": "Company Says Can't Find Him"

Tyler Durden's picture




 

On Sunday evening, George Chen delivered what, for those who follow financial markets, surely was a candidate for Tweet of the day:

Yes, "company said can't find him," and given China's recent "crackdown" on anyone suspected of engaging in activities that might send stocks lower, you know what that means:

As we outlined in September, Beijing's "kill the chicken to scare the monkey" campaign has brokers, hedgies, and even securities regulators so terrified, that one money manager said the following to his friend after being "summoned" by Chinese authorities: "If I don't come back, look after my wife."

Earlier this month, WSJ took a look at China's case against Xu Xiang, who runs Shanghai-based Zexi Investment. Xu is accused of insider trading and stock manipulation and not only did Beijing detain him, they also froze his parents' accounts. "After Xu Xiang was arrested, many people got nervous,” one fund manager told The Journal. "I don’t want to get arrested,” said another. 

Around the same time the media picked up on the Xu story, another CSRC official was arrested in China. Yao Gang, vice chairman of the securities regulator, is now under investigation for graft, Reuters reported a little over a week ago, noting that Yao is the second official from the capital markets watchdog to come under scrutiny. 

This is the backdrop against which Guotai's Chairman and CEO Yim Fung went "missing" on November 18. 

Guotai was forced to find temporary replacements for Yim as "the executive currently cannot discharge his duties." Calls to Yim’s cell went to his voicemail box.

Guotai Junan International Holdings Ltd. shares fell double digits in Hong Kong to close at HK$2.85 on Monday. It was the steepest slide in three months. 

As Bloomberg reports, "Hong Kong-based, Yim has a high profile in the local securities industry, including through his comments to the media and as chairman and then honorary chairman of the Chinese Securities Association of Hong Kong. In China, Yim is known as Yan Feng." 

Well as it turns out, Yim and Yan and any other aliases were "taken away" in connection with the investigation into the above mentioned Yao Gang.

So apparently, China is going to assert that corrupt officials at the securities watchdog may have been working with Guotai's CEO to manipulate stocks. Or at least that's the way this looks. 

For now, Yim has been replaced by deputy CEO Wong Tung Ching, which would be fine we suppose were it not for the fact that last December, Hong Kong anti-corruption officials stormed his home in connection with an ICAC investigation. In other words, we wouldn't be surprised if Guotai soon finds its deputy CEO "missing" as well. 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 11/23/2015 - 10:38 | 6827184 junction
junction's picture

That is a much nicer way to deal with a bankster than nail gunning the guy.

Mon, 11/23/2015 - 10:41 | 6827185 Looney
Looney's picture

"High Profile" CEO Disappears

Look up! He is stapled to the ceiling in his office! ;-)

Looney

Mon, 11/23/2015 - 10:44 | 6827206 Latina Lover
Latina Lover's picture

Times like this I envy the Chinese. Imagine if we had a non bankster controlled government in the USSA We could make GS, JP Morgan, Federal Reserve etc etc exec's disappear.  The world would even feel better without them.

Mon, 11/23/2015 - 10:54 | 6827244 y3maxx
y3maxx's picture

...He's in America...announced this a.m. ...working for GS

Mon, 11/23/2015 - 11:21 | 6827333 Skateboarder
Skateboarder's picture

Gon So Fa

(son of Di Sa Pi)

Mon, 11/23/2015 - 11:49 | 6827420 RafterManFMJ
RafterManFMJ's picture

And like that...poof...he's gone.

Mon, 11/23/2015 - 14:24 | 6827910 jbvtme
jbvtme's picture

check the organ transplant unit at the Mass General hospital...

Mon, 11/23/2015 - 12:03 | 6827461 Antifaschistische
Antifaschistische's picture

I would start with searching for homes sold in San Marino California in the last 7 days in excess of 10 million.  There's probably a 20 million dollar yacht approaching Midway Islands at this point with this dude and a collection of others who won't make the news.

Mon, 11/23/2015 - 13:27 | 6827769 kralizec
kralizec's picture

Yim Fung/Yan Feng...

Shark doo-doo.

I sure as hell wouldn't want to be Wong Tung Ching!

Mon, 11/23/2015 - 14:06 | 6827863 JRobby
JRobby's picture

Nailgunned

Vacationing in Bankok

 

Mon, 11/23/2015 - 11:30 | 6827363 BurningFuld
BurningFuld's picture

Ya GS took one look at how corrupt he was and hired him right away.

Mon, 11/23/2015 - 10:55 | 6827247 Bananamerican
Bananamerican's picture

i just saw him dropping his kid off at my son's elementary school in Orange County...

Mon, 11/23/2015 - 11:08 | 6827272 Handful of Dust
Handful of Dust's picture

Irvine, Laguna Niguel, and son on are loaded with these "disappeared bankers and gubmint officials" I suspect.

 

Congress or Cali should at least tax their Millions of Loot when it's transferred here. Call it the "Money Laundering Fair and Balanced Tax Appropriation Act."

Mon, 11/23/2015 - 11:23 | 6827336 Skateboarder
Skateboarder's picture

I'm afraid it could have been his manservant in the top-of-the-line Mercedes you saw. He would never drive, let alone in a "low-class" car like that.

Mon, 11/23/2015 - 10:40 | 6827192 monkeyboy
monkeyboy's picture

Burrish!

Mon, 11/23/2015 - 10:40 | 6827191 DirkDiggler11
DirkDiggler11's picture

Yep, another Chineese trader "taught" not to sell by the Chicom's. I wonder if his family will get a bill for the bullet they put in his head ?

Mon, 11/23/2015 - 10:43 | 6827200 firstdivision
firstdivision's picture

At lesat in the at corrupt country, they arrest the corrupt bankers/regulators. 

Mon, 11/23/2015 - 10:43 | 6827202 bamawatson
bamawatson's picture

deputy CEO Wong Tung Ching ?? we used to call him cha

Mon, 11/23/2015 - 10:52 | 6827239 J Jason Djfmam
J Jason Djfmam's picture

Tung Ching Wong?

Mon, 11/23/2015 - 10:45 | 6827212 e-recep
e-recep's picture

He probably nail-gunned himself three times in the head.

Mon, 11/23/2015 - 10:50 | 6827235 Bangin7GramRocks
Bangin7GramRocks's picture

He's probably in one of his 400 money laundering apartments scattered throughout New York, San Francisco, Vancouver or Hawaii.

Mon, 11/23/2015 - 11:52 | 6827426 bluskyes
bluskyes's picture

so that's what a chinese laundry is...

Mon, 11/23/2015 - 10:46 | 6827217 Truth Eater
Truth Eater's picture

He must have forgotten the rule:  you can buy as many stocks as you like, but you can never sell them.

Mon, 11/23/2015 - 10:49 | 6827232 J Jason Djfmam
J Jason Djfmam's picture

Staying at the Hoter Carifolnia.

Mon, 11/23/2015 - 10:47 | 6827222 cowdiddly
cowdiddly's picture

The Chinese market doesn't have Liquidity problems. Rouge short traders are easiliy liquidated.

Mon, 11/23/2015 - 10:48 | 6827224 Glass Seagull
Glass Seagull's picture

 

 

Did anyone check Vancouver?

Mon, 11/23/2015 - 14:22 | 6827899 Reichstag Fire Dept.
Reichstag Fire Dept.'s picture

I'm in Vancouver now...I don't see him yet...I'll ask around at the Benz dealer near the airport. 

Mon, 11/23/2015 - 10:48 | 6827228 buzzsaw99
buzzsaw99's picture

some only got half the message

you take the money then you GET THE FUCK OUT OF DODGE.

Mon, 11/23/2015 - 10:48 | 6827230 williambanzai7
williambanzai7's picture

WISDOM OF HU FLUNG DUNG

Mon, 11/23/2015 - 11:32 | 6827367 BurningFuld
BurningFuld's picture

The first arrow they shot at him was 3 inches too high.

Mon, 11/23/2015 - 10:49 | 6827234 I AM SULLY
I AM SULLY's picture

"... check the tiger's stool ..."

Mon, 11/23/2015 - 10:53 | 6827241 Vylahkinnen
Vylahkinnen's picture

Mr. Yim is currently enjoying his trip to Belize.

Mon, 11/23/2015 - 10:53 | 6827242 youngman
youngman's picture

He is in his 50 million dollar penthouse in New York City..enjoying the good life and ordering take out Pizza...enjoying his stolen money...

Mon, 11/23/2015 - 10:56 | 6827250 Ban KKiller
Ban KKiller's picture

Vancouver, B.C. 

Mon, 11/23/2015 - 11:09 | 6827285 Handful of Dust
Handful of Dust's picture

Laguna Niguel.

Mon, 11/23/2015 - 12:16 | 6827501 oddjob
oddjob's picture

I'll narrow that down to Sea Island.

Mon, 11/23/2015 - 13:39 | 6827807 Peanut Butter E...
Peanut Butter Engineer's picture

Definitely not in China.

Mon, 11/23/2015 - 10:56 | 6827249 pot_and_kettle
pot_and_kettle's picture

fertilizer

Mon, 11/23/2015 - 10:58 | 6827251 Who was that ma...
Who was that masked man's picture

He's with Jimmy Hoffa.

Mon, 11/23/2015 - 12:31 | 6827553 Oldrepublic
Oldrepublic's picture

swimming with the fishes

Mon, 11/23/2015 - 10:58 | 6827252 mijev
mijev's picture

Maybe he decided to disappear himself. It's not too hard to melt into the crowd when you look the same as the other 1.39999B people around you.

Mon, 11/23/2015 - 11:00 | 6827255 Cow
Cow's picture

Ingredients: Melamine, Vitamin D3

 

Mon, 11/23/2015 - 11:03 | 6827266 Zero-Hegemon
Zero-Hegemon's picture

He's really fine, they found a nice farm with lots of animals, and plenty of space for him to run around on and be happy.

Mon, 11/23/2015 - 11:04 | 6827267 Able Ape
Able Ape's picture

He's staying at the Jimmy Hoffa Hotel.....

Mon, 11/23/2015 - 11:08 | 6827284 BeaverCream
BeaverCream's picture

Pretty sure that's Phuc Dat Bich's dad.

Mon, 11/23/2015 - 11:12 | 6827295 CHoward
CHoward's picture

Wall Street could use some of this Chinese style 'discipline'. 

Mon, 11/23/2015 - 11:19 | 6827320 Panic Mode
Panic Mode's picture

I bet he is hiding in Brussel.

Mon, 11/23/2015 - 11:23 | 6827338 Bernanke'sDaddy
Bernanke'sDaddy's picture

He's probably here in Cupertino or Millbrae, CA.

Mon, 11/23/2015 - 12:41 | 6827584 Clowns on Acid
Clowns on Acid's picture

He's in feckin' Chinatown NYC wearing a waiter's apron. Definitely has a Chase JPM card though. 

Mon, 11/23/2015 - 11:33 | 6827371 Sizzurp
Sizzurp's picture

Piss off the wrong guy over there and you are done.  Better have a plan B and be ready to use it at all times.  

Mon, 11/23/2015 - 11:36 | 6827383 Charles Offdensen
Charles Offdensen's picture

Hory clap. I knew my blocorri beef taste diffelent. Damn you Mongorians.
Rooks rike no mole shitty wok fol me

Mon, 11/23/2015 - 12:25 | 6827523 falak pema
falak pema's picture

You always lose when the ZERO comes up at the Casino.

Is the wheel now algoed?

I wonder if this is the pork's head at the chinese Bullingdon club :

http://uk.businessinsider.com/baml-on-2016-chinese-yuan-devaluation-2015-11

Mon, 11/23/2015 - 12:48 | 6827621 HoserF16
HoserF16's picture

Check the Wood Chipper...

Mon, 11/23/2015 - 13:37 | 6827800 NewJackCity
NewJackCity's picture

Peoples China Daily 11-23-2015: 'On a lighter note, Politburo Chief Mr Ho Lee Fuk, underwent a successful kidney transplant last night. Although Mr Ho and Mr Yim share the exact blood type, there is no relations between the two men.'

Do NOT follow this link or you will be banned from the site!