Huang Guangyu, China’s richest man with an estimatednet worth of $6 billion, has been detained by police amid allegations of securities fraud.
Guangyu built from scratch one of China’s largestcompanies, home appliance retailer Gome Electrical Appliances. Gome stores are all over China and prospered during the Chinese real estate boom.
Trading of Hong Kong-listed Gome shares have been halted too.
