China Construction Bank investigates wealth management product dispute

China Construction Bank (CCB) said on Thursday that it was investigating allegations by investors that a clerk at the country’s second-biggest lender misled them into buying a wealth management product that underperformed.

Seven investors have complained to the country’s banking and securities regulators after the product lost more than 30 per cent of its value after being sold to them as a fixed-income product with guaranteed returns, the National Business Daily reported on Wednesday.

via Business feed http://www.scmp.com/business/companies/article/1113507/china-construction-bank-investigates-wealth-management-product