How China's private equity tycoon Wang Chaoyong's dreams collapsed

Wang Chaoyong, a Chinese private equity tycoon who founded Chinaequity Investment, was detained by Beijing police on allegations of misappropriation of funds, Caixin learned from multiple sources.

Wang, 56, disappeared from public sight nearly three weeks ago. He was last seen at his office in Beijing's central business district on the afternoon of Nov. 29. He was detained by police the next afternoon, sources said.