Thu, November 27, 2008
Business > Industries > Police investigating Gome chairman

Chinese mainland richest man under police probe

2008-11-24 03:00:16 GMT2008-11-24 11:00:16 (Beijing Time)  Xinhua English

BEIJING, Nov. 24 (Xinhua) -- Huang Guangyu, China's home appliance tycoon, is under police investigation for stock market manipulation, according to local media.

His company, the Hong Kong-listed Gome company was expected to suspend trading on Monday, the Beijing News reports. The company was scheduled to issue its third-quarter financial report on Monday.

Xinhua reporter's call to Beijing Gome headquarters went unanswered.

Huang is the richest man on Chinese mainland, with 43 billion yuan (about 6.14 billion US dollars) of personal wealth, according to the 2008 Hurun Rich list.

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