Chinese investigators have visited the Shanghai offices of Morgan Stanley’s joint venture as part of their investigation into a former senior official who was detained last month on suspicion of taking bribes.
Officials from a prosecutors’ office in northeast China arrived at the offices of Morgan Stanley Huaxin Securities to verify the details of Zhang Nan, the official’s son and an employee at the joint venture, say several people familiar with the matter.
The move comes against the backdrop of a wide-ranging anti-corruption campaign in China, as well as a US probe into foreign companies who hire “princelings” – the family members of China’s elite – in order to win business.
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