Former legislator might be tied to fatal rail crash
By Li Qian |
October 31, 2012, Wednesday
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Print Edition
Print Edition
A FORMER legislator in the southern city of Shenzhen who has been out of the public eye for some time is now being investigated for bribery in a case believed linked to a deadly high-speed railway crash in Wenzhou last year, the Southern Metropolis Daily newspaper reported.
Shenzhen prosecutors said late on Monday that they have placed restrictions on Xu Yusuo, a former member of the Standing Committee of the Shenzhen People's Congress and president of Invengo Information Technology Co Ltd. They said the measures were taken at the request of Zhengzhou Railway Bureau in Henan Province. It wasn't clear whether he was in police custody, released on bail or under house arrest.
Xu's downfall has been reported widely by media as likely tied to the breakdown of a railway signal system that caused the train collision in Wenzhou in July 2011, which left 40 people dead and at least 172 injured. But such a tie has not been confirmed.
Invengo Information Technology, a provider of railway signal systems, was founded in 1999 and went public in August 2007, according to its website. Xu and his wife ranked 496th on the Hurun Rich List in 2009 with 2.2 billion yuan (US$349 million) in personal assets. Most of his company's income came from railway projects.
Since last Thursday, trading of the company's stock has been suspended for "important issues," the company said. It said in an announcement on Monday night that Xu has not been in contact with the company and Chen Chang'an, a board member, is acting president.
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