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Ex executive of CITIC Securities surrenders to police
By Lydia Chen |
June 14, 2011, Tuesday
|
Online Edition
Online Edition
A FORMER senior executive of China's largest securities firm, who was on the wanted list of Interpol for fraud and insider trading, has turned himself in to the Chinese police.
Xie Fenghua, former executive manager of the Investment Department of CITIC Securities Co, has returned to China from New Zealand where he had been hiding since March of last year, a Shanghai newspaper reported today.
Xie was put on Interpol's "Red Notice" last month as Shanghai police sought international assistance for his arrest and extradition.
Police has frozen Xie's personal savings account totaling more than 20 million yuan (US$3.09 million), according to China Business News.
Xie's second wife, An Xuemei, former executive director of Huatai Securities Co, was already arrested for inside trading.
Previous media reports said Xie fled to New Zealand in March 2010 when authorities started to investigate him. His first wife and child were living in New Zealand.
Xie and An were believed to have taken advantage of Xie's role in restructuring Shanghai-listed Zhejiang WHWH Industry Co and Haitong Group by buying shares before the plans were announced.
An is said to have made 1.67 million yuan through several accounts of Xie's relatives between May and August of 2009.
Xie Fenghua, former executive manager of the Investment Department of CITIC Securities Co, has returned to China from New Zealand where he had been hiding since March of last year, a Shanghai newspaper reported today.
Xie was put on Interpol's "Red Notice" last month as Shanghai police sought international assistance for his arrest and extradition.
Police has frozen Xie's personal savings account totaling more than 20 million yuan (US$3.09 million), according to China Business News.
Xie's second wife, An Xuemei, former executive director of Huatai Securities Co, was already arrested for inside trading.
Previous media reports said Xie fled to New Zealand in March 2010 when authorities started to investigate him. His first wife and child were living in New Zealand.
Xie and An were believed to have taken advantage of Xie's role in restructuring Shanghai-listed Zhejiang WHWH Industry Co and Haitong Group by buying shares before the plans were announced.
An is said to have made 1.67 million yuan through several accounts of Xie's relatives between May and August of 2009.
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