The former head of investment banking in China at JP Morgan Chase has been arrested by Hong Kong’s anti-corruption agency, according to reports.
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Family members of China's current and prior political leaders are using secret, offshore companies to help hide their wealth in tax havens, a new report says. And some well-known banks and accounting firms have played a significant role in helping them do it.
JP Morgan’s controversial “Sons and Daughters” hiring program is still under the microscope, most recently in a New York Times article that said the practice was an open secret among employees.