Jailed Chinese Tycoon’s Gains Approach $1 Billion in Rally
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Being behind bars hasn’t stopped the founder of one Chinese appliance seller from booking gains approaching $1 billion in Hong Kong’s surging stock market.
Huang Guangyu, the businessman jailed in 2010 for bribery and insider trading, has seen the value of his stake in Gome Electrical Appliances Holding Ltd. more than double by about $873 million since April as mainland Chinese investors take advantage of reduced trading restrictions and pour money into the former British colony.