Former Gome tycoon stands trial in Beijing
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Huang Guangyu, former chairman of Gome Electrical Appliances Holdings, went on trial in Beijing Thursday on charges of illegal business dealings, insider trading and bribery.
The procuratorate has charged Huang with illegal foreign exchange trading via Hong Kong in 2007 and insider trading of Shenzhen-listed Zhongguancun stocks.
The procuratorate has also accused Huang of offering bribes of 4.56 million yuan (about 667,600 U.S. dollars) to a number of officials.
Hong Kong-listed Gome opened at 2.7 Hong Kong dollars (0.35 U.S. dollar) per share in Thursday trade, compared with 2.72 HK dollars at the end of the previous trading day.
Huang resigned as a Gome director in January 2009 but he is still the largest shareholder.
The 41-year-old tycoon, listed by the Hurun Report as China's richest man in 2004, 2005 and 2008, was detained by Beijing police in November 2008.
