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Bizarre case of deed fraud complicated Anbang’s $5.8B hotel portfolio deal

It might have been one of the biggest heists of all time. Anbang has sold its U.S. hotel portfolio to the highest bidder at a price north of $ 5.8 billion, but a last-minute wrench was thrown into the deal when the Chinese insurance conglomerate discovered six of the properties’ deeds were fraudulently transferred to limited liability companies, the Wall Street Journal reported. The deal with the buyer, South Korea’s Mirae Asset Global Investments, was due […]

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