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China Is Said to Probe Chairman of Emerging Energy Star CEFC

  • CEFC Chairman Ye Jianming is said to have been investigated
  • Company bought $9 billion stake in Russian oil giant Rosneft
Ye Jianming
Ye JianmingSource: CTK via AP Photo
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Ye Jianming, the founder and chairman of rapidly expanding Chinese conglomerate CEFC China Energy Co., has been investigated by government authorities, according to people with knowledge of the situation.

Ye, who grew CEFC from an obscure company focused mainly on the former Soviet Union into a conspicuous player on the world energy stage, is under investigation for “economic-related issues,” said one of the people, who asked not to be identified as the information isn’t public. It’s unclear if the investigation has concluded, and further details were unavailable.