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Gome Founder Set to Go on Trial

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Gome Founder Set to Go on Trial

by CFO Innovation Staff, 21 April 2010
topics:
Accounting and Regulations Finance and Banking
tags:
economic crimes fraud
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Wong Kwong-yu, founder Gome Electrical Appliances Holding, will go on trial tomorrow for insider trading, reports the South China Morning Post, citing state media.

 

Wong, once mainland China's richest man, will be tried in the Beijing Second Intermediate People's Court, according to the Oriental Morning Post.

 

According to the South China Morning Post, Wong was detained in November 2008 when police investigated him for "economic  crimes." After 15 months in custody, Wong was formally charged with insider trading, bribery and unspecified business crimes.

Original Article URL: 
Ex-Gome Boss Goes on Trial Tomorrow
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CFO Innovation Staff
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