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Noah takes legal action over suspect funds of RMB 3.4 billion

Noah Holdings’ asset management unit, Shanghai Gopher Asset Management, has taken legal action against Camsing International Holding Limited over credit funds amounting to RMB 3.4 billion that it suspects are fraudulent. The Gopher AM-managed funds “provided supply chain financing involving third-party companies related to Camsing International Holding Limited”, whose founder and CEO, Lo Ching, was detained by Shanghai police on…

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