Li Hejun, the founder of China’s solar energy giant Hanergy Thin Film Power Group, was taken away by police in China’s northeastern Liaoning Province on Dec. 17, according to Caixin, a major Chinese financial news portal.
Li was detained by police to “assist investigators” and hadn’t been seen as of the time of reporting, Caixin reported on Jan. 11. Caixin says that the reason for Li’s detention is still unknown.
Li’s arrest could be related to a loan granted by Jinzhou Bank, a city commercial bank in Liaoning Province, to Hanergy Group, according to Securities Times, a Chinese state-run financial portal.
The balance of the loan was 9.461 billion yuan (about $1.396 billion), with a net credit risk exposure of 2.77 billion yuan (roughly $408.8 million), as of 2015, as disclosed in the prospectus of Jinzhou Bank, which sought a public listing on the Hong Kong Stock…
China’s Solar Energy Tycoon Detained by Authorities: Reports
