EddieJayonCrypto
25 Jul 25
China's Ministry of Foreign Affairs confirmed that Chenyue Mao, managing director at Wells Fargo in Atlanta, is barred from leaving China due to a criminal investigation and must cooperate with authorities. Wells Fargo has suspended all employee travel to China and is working to secure her return, t...
China’s Ministry of Foreign Affairs has confirmed that Chenyue Mao, a managing director at Wells Fargo Bank N.A. based in Atlanta, has been prohibited from leaving the country due to her involvement in a criminal investigation. The ministry stated that under Chinese law, Mao is required to cooperate with the ongoing investigation and is temporarily unable to exit China, with authorities assuring that her legal rights will be protected during this period.
Following this development, Wells Fargo, which operates branches in Shanghai and Beijing, has suspended all employee travel to China. The bank is actively working through appropriate channels to facilitate Mao’s return to the United States as soon as possible, though details linking her to the criminal case remain unclear.
Interestingly, Mao was recently elected chair of the Factors Chain International, a global association of financial companies, highlighting the prominence of her role within the financial services sector. Meanwhile, the U.S. embassy in Shanghai has criticized China’s use of exit bans on U.S. citizens and foreign nationals, calling attention to the lack of transparent judicial processes. The embassy continues to monitor such cases closely and has urged Chinese authorities to lift these bans promptly, citing their negative impact on bilateral relations.