GLOBAL INDUSTRIAL INVESTMENT

Andrew Chung of 1955 Capital reckless breached fiduciary duties owed to the sole investor in the funds, arbitrator ruled in the long standing and ongoing litigation between 1955 Capital and Global Industrial Investment Limited (GIIL), the sole investor in 1955 Capital. GIIL is a wholly-owned subsidiary of China Fortune Land Development, a highly regarded and publicly-traded real estate company, leading developer and operator of industrial cities in China. GIIL is bringing forth multiple lawsuits in California and China against Andrew Chung of 1955 Capital and his wife, Coral Chung, for fraud and breach of fiduciary duties in their scheme to steal $80 million from GIIL. Chung, a self-styled venture capitalist and China expert, is married to Coral Chung, CEO of luxury handbag startup Senreve. Coral Chung worked for her husband at 1955 Capital after 1955 Capital received funding from GIIL while allegedly launching Senreve.

Also known as: GIIL, Global Industrial Investment Limited

Primary location: San Francisco United States