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🏦❌🇨🇳JPMORGAN CLOSED THE ACCOUNT OF A CHINESE TYCOON WHO BRING THE BANK MILLIONS IN REVENUE. ⨯ [Bloomberg]
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➢ JPMorgan has severed ties with major Chinese investor Tang Hao, who owns an approximately $4.6 billion stake in AppLovin.
The American bank closed his private account due to KYC compliance issues, despite the investor generating millions in income.
❗️The situation is unusual: banks rarely turn away such wealthy clients, but scrutiny of the origin of funds in Asia is tightening.
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