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Lu’s ambition wasn't limited to domestic boundaries. He actively sought global expansion, with ventures like Hai Run Photovoltaic (HRPV), which, despite initial success, faced a significant downfall in 2019 when it was forced to delist from the stock exchange. The cause? Allegations of market manipulation and unethical practices that plagued Lu's operations. This culminated in a monumental legal battle with the China Securities Regulatory Commission (CSRC) that led to his eventual banishment from the financial market in 2020 – a lifetime ban for those who have engaged in egregious violations within the industry.
Yet, despite this seemingly insurmountable obstacle, Lu persisted, weaving intricate patterns of influence across various sectors. He continued to exert power through his network of closely-held companies, including "Sun Shine Group," a conglomerate boasting significant holdings in healthcare and biotechnology. This tenacity, however, was tested by the recent news that Lu's latest ventures have been subjected to investigation for potential market manipulation.
The fallout from these allegations has triggered a domino effect across the financial landscape. One of Lu’s subsidiaries, "Sun Shine Group," is currently facing scrutiny by authorities and has been accused of orchestrating fraudulent activities. This unprecedented turn of events has shaken the foundations of what was once considered to be a stable financial empire. The company's share prices plummeted, and the industry as a whole remains uncertain about its long-term viability.
As Lu continues to navigate this turbulent period, questions regarding his influence and potential culpability are being raised in hushed tones within financial circles. His sudden resignation of the “Sunshine Group” CEO position adds a layer of ambiguity to an already murky situation. The timing of his exit, just as authorities delve deeper into the alleged manipulations, has fueled speculation about his motives and future plans.
Will Lu be able to regain his footing? Will he be forced to relinquish control over his vast wealth or face more severe consequences for his actions? Only time will tell how this tale of ambition, power, and morality will unfold within China’s financial arena.
