English > Politics > Politics-Featurestory>Gome Tycoon's Wife under House Arrest

Gome Tycoon's Wife under House Arrest

01-07 12:35 Caijing

As the financing scandal of Gome founder Huang Guangyu unfolds, his wife is put under house arrest for alleged business crimes.

By staff reporters Luo Changping and Yu Ning

From Caijing online

After police arrested Huang Guangyu, one of China’s richest men and the founder of a home appliance chain, they also put his wife, Du Juan, under house arrest for alleged business crimes.


Sources told Caijing that Du was arrested and taken to Beijing in late December. Now she is staying in a residence controlled by the police.


Gome, the home appliance chain, announced Du’s resignation from the board on December 24.


Du, 36, graduated from Beijing Science and Technology University and married Huang in 1996. They have three children and hired a nanny for each child. Du is an expert in accounting.


Du joined the board of Gome in 2002. In 2005, Du and Huang sold the commodities and securities arms of Penguin, another company he founded. In 2007, Bear Stearns and Penguin Investment set up a strategic investment alliance; each contributed US$250 million to expand into retail industries beyond home appliances.

Full article in Chinese: http://www.caijing.com.cn/2009-01-06/110045431.html

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