Deals
China Forestry Says Ex-CEO Li Han Chun Detained by Police
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China Forestry Holdings Ltd. said Li Han Chun, its former chief executive officer, was detained by police in China for the alleged embezzlement of 30 million yuan ($4.6 million).
Li, replaced by Li Jian as CEO on Feb. 18, removed company files including sales documents of unit Kunming Ultra Big Forestry Resources Development Co., according to a China Forestry statement to the Hong Kong stock exchange today. Li Han Chun was detained by police in China’s Guizhou province on Feb. 24, it said.