From Caijing Magazine:
Mysteries surround the man ranked as China’s richest for two consecutive years. Despite his fortune and fame, little is known about his path to success and how he emerged wealthier than ever from a 2006 criminal investigation.
But details began to emerge after Beijing police arrested Huang Guangyu on November 26. The 39-year-old tycoon who controls several real estate companies and retailers, including China’s leading home appliance retailer Gome (HKSE: 493), was initially detained November 19 on stock manipulation charges, whipping up a sea of rumors about possible corruption.
Police confirmed the probe a week after detaining Huang, and Gome corroborated with a public statement November 28 naming Chen Xiao as acting chairman to replace Huang. The company said business would continue as usual.
