Singhal, Nixon

Singhal Quits Xinhua Amid Controversy

Shelly Singhal has resigned from the boards of Xinhua Finance and Xinhua Finance Media after being appointed executive director of corporate development for the vendors’ shared services group two weeks ago, following reports that XFM’s IPO prospectus withheld details about the business dealings of his trading firm Bedrock Securities and his own investment activities. Singhal disputes the charges and says he resigned because the allegations had become a dist