Ten high-level executives under investigation

2014-12-26 07:22

By (chinadaily.com.cn)

As China steps up its anti-graft drive, a swathe of Chinese CEOs and corporate chairmen have come under investigation of allegedly conducting bribery activities and embezzlement.

More than 70 senior directors from State-owned companies have been probed in corruption cases so far this year, said a senior official from the Party's Central Commission of Discipline Inspection this month, increasing 59 percent year-on-year. Senior management of private enterprises have also been investigated.

Now, let's take a look at 10 high-level executives of listed Chinese companies that have been under investigation in 2014.

Name: Chen Zhuolin

Title: chairman and CEO of Agile Property Holdings

Chen Zhuolin, chairman and CEO of Hong Kong-listed real estate developer Agile Property, was put under investigation by Kunming People's Procuratorate, a company filing in October revealed.

Chen was allegedly involved in an anti-corruption investigation against officials in Yunnan province where the company retains a real estate project with a total investment of 20 billion yuan ($3.22 billion), according to Chinese financial media Caixin.

The company's stock dropped after the revelation but rebounded slightly when Agile released information that the 52 year-old CEO had resumed his duties.

Chen was also accused of indecent assaults in 2013. The charges were later revoked.

Ten high-level executives under investigation

Chen Zhuolin, chairman and CEO of Agile Property Holdings, attends a press conference for the company's 2013 interim results announcement in Hong Kong, Aug 15, 2013. [Photo/IC]