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Home >> China
UPDATED: 19:54, December 12, 2006
Chinese court resumes trial of former chairman of China's biggest fridge maker
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A Chinese court resumed on Tuesday the trial of Gu Chujun, former chairman of China's biggest refrigerator maker, after the court was adjourned five weeks ago.

Gu, former chairman of Guangdong Kelon Electrical Holdings Co Ltd, was detained in August last year and went on trial on Nov. 7 this year after a 60-million-yuan (7.4 million U.S. dollars) deficit in the Kelon 2004 annual report, contrasting blatantly with 25 million dollars in profit in the first three quarters.

Gu and eight of his assistants were charged with fraud and embezzlement.

The Foshan Intermediate Court adjourned on Nov. 8.

At Tuesday's court, the prosecution presented new evidences of Gu's crimes that were found during the past five weeks.

The court is expected to last for a couple of days.

Guangdong Kelon Electrical Holdings Co. has been fined 600,000 yuan (75,000 dollars) for overstating its profits by the China Securities Regulatory Commission (CSRC), while Gu Chujun was fined 300,000 yuan (37,500 dollars).

Source: Xinhua


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