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)
Canadian police arrest Toronto man on suspicion of spying for China
China says nets 180 graft suspects in overseas manhunt
Suspects in Taiwan train scare arrested in China
Arrested Islamists suspected of planning attack in France
Three arrested in German airport bribery probe
Liberian voter turnout low as Ebola overshadows senate election
North Korea proposes joint probe with the U.S. into Sony cyber attack - KCNA
U.S. sends four Guantanamo prisoners home to Afghanistan
Turkey's Erdogan 'closely following' legal case against rival cleric
Ladies, time to stand up and fight for your man
Looking out for your ears
The Hobbit: The Battle Of The Five Armies
Moscow hotel goes halal in bid to woo Muslim visitors
Online travel searches for Cuba spike 300% following Obama news
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)