Gome Founder Set to Go on Trial

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.

Read more on

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern