The net is tightening around China’s richest man with the detention of his wife amid a police investigation into possible financial offences by the businessman who founded the country’s biggest appliance chain.
State media said Du Juan, 37, was now under police guard in Beijing and had been formally placed under “residential surveillance”. Ms Du had returned to Beijing from an unidentified location outside the city before Christmas. The police wanted to prevent her from leaving the country.
She has long been a close business associate of her husband, running large parts of the company that Huang Guangyu built up from a streetside stall selling watches to a nationwide conglomerate over hundreds of stores.
Mr Huang, 39, listed as China’s weathiest man on the Hurun Rich List this year with wealth estimated at £4 billion, disappeared in late November and was later revealed to be under investigation for alleged insider trading. more
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