Richest man in Jiangsu assists procuratorate in investigation

A company boss, reportedly the richest man in Jiangsu province, is assisting a procuratorate with an investigation, people.com.cn reported.

Zhu Xingliang, founder of Suzhou Gold Mantis Construction Decoration Co, is assisting a procuratorate outside Suzhou, Luo Chengyun, secretary to the company chairman, told people.com.cn on July 24.

No details about the investigation were released.

Zhu, 54, and his family hold 45.65 percent of the company's shares.

Gold Mantis became China's first listed interior design and decoration company in 2006, attracting many shareholders, including the Yunfeng Fund, co-founded by Alibaba Chairman Jack Ma.

The share price of the company reached a record high in May, with the value of Zhu's holdings exceeding 20 billion yuan ($3.26 billion).

The share price of the company dropped the maximum allowed on Monday, losing more than 3 billion yuan, and the company suspended trading in the stock market as of July 23.

We Recommend:
Migrant workers' high incomes not that rosy	Glamorous girls highlight Hainan auto show	Top 10 profitable companies in China
Born to lead: 2nd gen of Chinese tycoons	How foreign firms deepen China’s milk headache?	Where is the end of the slump of gold price?
Cross-sea bridge to open in E China	GSK execs allegedly received sexual services	In pictures: history of China's auto industry