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Chinese wealth manager alleges 3.4 billion yuan fraud

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US-listed Noah Holdings, one of China's largest wealth managers, levied accusations of fraud against Camsing International Holding, the Hong Kong-listed company that said last week its chairman had been detained by police.

Noah Holdings announced late Monday that an affiliate, Shanghai Gopher Asset Management, oversaw some credit funds with ties to a company whose controlling shareholder has been criminally detained by the Chinese police.

Gopher said that the firm has already established a special emergency and handling . . .

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