China’s Legend Sues Chilean Investor in US Over Salmon Deal

The China-based parent of Chilean salmon farmer Australis Seafoods said in a US lawsuit that former owner Isidoro Quiroga defrauded it when he sold the aquaculture company for $900 million and then tried to hide assets bought with the proceeds.

Australis, a unit of Legend Holding Corp., sued in Delaware state court alleging Quiroga didn’t disclose that his company was exceeding Chile’s salmon-production limits to artificially inflate the firm’s 2019 sale value.

The complaint is the latest twist in Legend’s efforts to hold Quiroga accountable for what the Chinese company has called “one of the greatest frauds in Chilean ...