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Hong Kong-Based Ascendum Group Founder Serena Shao Accused of Fraud in Cayman Liquidation Petitions - OffshoreAlert

Serena Shao, who appears to be based in China and Hong Kong, misappropriated at least $1.9 million from Hong Kong-based healthcare investor Ascendum Group and made false police reports that caused her business partner, Cathy Zhang, to be wrongly arrested and have her assets frozen, it has been claimed in two winding up petitions in the Cayman Islands.
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offshorealert.com broke the news in on Thursday, August 14, 2025.
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