Ex-chief of China’s top electronic goods firm faces trialApril 22nd, 2010 - 7:43 pm ICT by IANS
Beijing, April 22 (IANS) A former chief of China’s blue chip electronic appliances firm faces trial in a court here over allegations of illegal trading and bribery.
Huang Guangyu, former chairman of Gome Electrical Appliances Holdings, went on trial Thursday on charges of illegal business dealings, insider trading and bribery at Beijing’s No.2 Intermediate People’s Court.
Huang has been charged with illegal foreign exchange trading via Hong Kong in 2007 and insider trading of Shenzhen-listed Zhongguancun stocks.
Huang is also accused of offering bribes of 4.56 million yuan (about $667,600) to a number of officials, Xinhua reported.
Huang resigned as director of Gome in January 2009 but he is still the largest shareholder of the company.
The 41-year-old business tycoon, listed by the Hurun Report as China’s richest man in 2004, 2005 and 2008, was detained by Beijing police in November 2008 after he was accused of manipulating share prices in 2007 for a company run by his elder brother.
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Tags: beijing police, bribery, bribes, business tycoon, elder brother, electronic appliances, electronic goods, foreign exchange trading, gome electrical appliances, huang guangyu, hurun report, illegal business dealings, insider trading, old business, richest man, share prices, shareholder, shenzhen, xinhua, yuan