Tang Wanxin, founder of China's D'long conglomerate, which was once China's largest stockholder is going on trial for various alledged illegalities. Wanxin first fell into trouble in 2004 when creditors began demanding repayment of laons for which Wanxin had pledged equity in various companies in collateral. Up to ten others, including Wanxin's brother Tang Wanli, may also face charges in the alledged fraud. The China Standard has further details.

-- MDT

Labels: China