Shanghai F1 boss implicated in the pension fund scandal – Geoff Dyer

From Financial Times:

A probe in appears to have widened into examining the city’s sporting world after state media reported on Wednesday that the head of Formula One racing in China had been called in for questioning by investigators.

Yu Zhifei, who runs the company that manages Shanghai’s F1 circuit, was “assisting investigations” over alleged “illegal business operations”, the official Shanghai Securities News said.

Mr Yu is the latest in a series of senior figures in Shanghai politics and business who have come under scrutiny in the corruption probe, although unlike a number of other officials he has not been formally detained by the 100-strong team of investigators sent by Beijing.[Full Text]

-Also read the news story from Radio Free Asia (Chinese) and Shanghai graft scandal keeps going and going from China Analyst.

And China F1 host in corruption probe from Reuters

October 19, 2006, 1:14 PM
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Categories: Society