China Finance Online says public security bureau is investigating its chairman
09/07/2021 22:48
** Financial services firm China Finance Online JRJC.O
says it learned of an investigation of Chairman Zhiwei Zhao by
Xicheng branch of Beijing Municipal Public Security Bureau
** Zhao is cooperating with the government authorities, JRJC
says, adding it does not have any specific information about the
investigation
** The Bureau recently requested a unit of variable interest
entity in China to provide some documents concerning commodities
brokerage services business - JRJC
** JRJC notes the outcome of the investigations could result
in administrative, civil or criminal actions against the
company, Zhao, directors or employees
** Zhao resigned from his position as the CEO in May
urn:newsml:reuters.com:*:nL3N2NC3QT
** Shares, up 2% at $10.70 after the bell, have risen 31%
YTD
(Reporting by Praveen Paramasivam)
((Praveen.Paramasivam@thomsonreuters.com;))