Second GOME brother on charges
By Wang Xiang |
August 5, 2010, Thursday
|
Print Edition
Print Edition
THE elder brother of Huang Guangyu, once the richest man on the Chinese mainland, is being prosecuted for insider trading, business scams, credit fraud, and illegally crossing the national border.
Huang Junqin's charges are not related to his younger brother, who was jailed for 14 years and fined 600 million yuan (US$88.5 million) in May for insider trading, bribery, and illegal business dealing, the Beijing Times reported yesterday.
Huang Junqin was chairman of real estate and investment company Beijing Towercrest Group. He founded GOME Electrical Appliances with Huang Guangyu in the 1980s.
Police started to investigate Huang Junqin in November 2008. The 2nd branch of Beijing People's Procuratorate is pressing the charges, which could be traced back to the 1993 when the brothers split up, the report said.
Huang Junqin's charges are not related to his younger brother, who was jailed for 14 years and fined 600 million yuan (US$88.5 million) in May for insider trading, bribery, and illegal business dealing, the Beijing Times reported yesterday.
Huang Junqin was chairman of real estate and investment company Beijing Towercrest Group. He founded GOME Electrical Appliances with Huang Guangyu in the 1980s.
Police started to investigate Huang Junqin in November 2008. The 2nd branch of Beijing People's Procuratorate is pressing the charges, which could be traced back to the 1993 when the brothers split up, the report said.
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