<- January 04, 2009 ->

Update: Former Gome Chairman Insider Trading Allegations

China Business News, 12/31/08

A source with knowledge of the situation has revealed details regarding the insider trading accusations surrounding former chairman of Chinese consumer electronics and home appliance retailer Gome (0493.HK), Wong Kwong Yu. The accusations revolve around manipulation of the stock price of real estate and property management firm Beijing Centergate Technologies (000931.SZ), which is controlled by Beijing Pengrun Investment, which in turn is owned by Wong. Wong is currently being investigated over the matter, and was suspended as chairman of Gome in late December.

Keywords: law, 000931.SZ, 0493.HK, Centergate, Gome, hardware, Wong Kwong Yu, retail, home appliances, consumer electronics

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