Hong Kong Skyworth scandal
p2pnet.net News:- Ten top executives with Hong Kong’s Skyworth company have been arrested in Hong Kong for embezzlement.
Among them was chairman Huang Hongsheng, says ChinaTechNews.
“Huang is suspected of bribing a former accountant to make false accounting books for the company,” it states. “The other executives are suspected of aiding Huang to hide the illegal activities.”
Founded in 1990, the Skyworth Group, with a lab in Silicon Valley, makes flat panel displays, computer monitors, DVD players, and other consumer electronics.
It has issued a statement saying that normal operations and marketing activities within the business are proceeding as normal, and current executives are cooperating with the investigation, says ChinaTechNews.
Stock has been suspended.
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See:-
embezzlement – Top Electronics Executives Arrested In Hong Kong For Embezzlement, ChinaTechNews, December 1, 2004
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