Home > News > World
Wednesday January 29, 2014 MYT 1:30:02 PM
Wednesday January 29, 2014 MYT 1:30:51 PM
SHANGHAI (Reuters) - A billionaire who Chinese media say is linked to the downfall of the former mayor of Nanjing has been arrested on suspicion of corruption, the company he founded, Suzhou Gold Mantis Construction Decoration Co Ltd, said.
The family of Zhu Xingliang, who ranked no.55 on the 2013 Forbes China Rich List with a fortune worth $2.04 billion, informed Gold Mantis of his arrest, the firm said in a statement to the Shenzhen Stock Exchange posted on Tuesday.
"The company received notification from family on January 27 that Director and the person in actual control (of the firm) Mr. Zhu Xingliang was arrested on suspicion of bribery with the approval of the prosecutor," the company filing said.
Shares in the interior decoration firm have dropped about 10 percent since Monday. Zhu is the company's biggest shareholder and the firm said business was operating normally following his arrest.
The arrest comes as China's President Xi Jinping makes the fight against endemic corruption a central theme of his administration. Xi has vowed to pursue both high-flying "tigers", or senior officials, and lower-ranking "flies".
Ji Jianye was removed from his post as Nanjing mayor on October 19, two days after a government announcement that he was under investigation for suspected "disciplinary violations" - a term often used for corruption - and breaking the law.
Ji is among the most senior government officials to be investigated. At the time, the state-backed Beijing News newspaper reported that Zhu's company had received many government contracts in locales where Ji was serving as a senior official before his time in Nanjing.
Zhu had been under house arrest since July 27 and was being investigated for matters related to Ji, the newspaper reported.
Gold Mantis is known for its work on several high-profile projects including the "Bird's Nest" Olympic stadium and the National Grand Theatre in Beijing.
(Reporting by John Ruwitch; Editing by Miral Fahmy)
China's top graft-buster says fight will never end
China to shut factories during APEC to curb Beijing pollution - Xinhua
Venezuela's Maduro slams Spain's Rajoy over jailed opponent
Oscar de la Renta: The All-American fashion legend
French court approves Kazakh tycoon Ablyazov's extradition to Russia
Brazil presidential campaign ends in slugfest over corruption
Greek tomb linked to Alexander The Great yielding its treasures
All-embracing celebration at MAICCI Deepavali open house
US$100mil Ebola pledge from Microsoft co-founder Allen
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)