ARRESTS SUGGEST FINANCIAL WRONGDOING COMMONPLACE IN CHINA
February 1st, 2009
BY MARK GODFREY
MURKY dealings in the China's corporate world suggest that the country's adherence to acceptable accounting standards may be more in word that practice. Huang Guangyu, China's second richest man and founder of electric retailing giant Gome, was accused in December of "financial crimes" by the China's ministry of public security, which oversees the police. The ministry has not elaborated any further, although press reports in Hong Kong (where Gome is listed) have speculated that Huang is being accused of as yet unproven allegations of ...
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