The allegations are "like a martial-arts novel fantasy about nabbing a bad guy". So began a statement from Founder Group, an investment firm owned by Peking University, defending its conduct in one of the most bitter disputes to roil Chinese high finance in years. It went on to plead with the authorities to clear its name: "Make the truth known to the world as soon as possible!!!" Ten days later, on January 4th, Founder's chairman, president and CEO were detained as part of an official investigation. The firm quickly named new board members to replace them. Authorities have also frozen more than 1.7 billion yuan ($285m) of funds in Founder's bank accounts.
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