Property News · February 21, 2020

Chairman and director of Minsheng’s SRE Group unit are detained by Shanghai police on embezzlement charges


The chairman and the executive director of a real estate unit owned by China’s largest privately owned financial services group are being detained by Shanghai police on embezzlement charges. Peng Xinkuang, the chairman and former chief executive of SRE Group Limited, has been approved for arrest under the embezzlement charge, according to a filing to the Hong Kong stock exchange, where the real estate developer’s shares are listed. Executive director Chen Donghui has separately been detained by…

Source : South China Morning Post
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