According to reports, Suntech Power Holdings Dr. Shi, the ousted Executive Chairman and current CEO, David King have both been detained by Chinese police.
The latest twist in the Suntech Power Holdings saga, police are said to be investigating dealings undertaken by the company before its main subsidiary, Suntech Wuxi filed for bankruptcy last week.
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Reports also suggested that the police were investigating the company’s financial accounts for possible irregularities.
The company warned almost a year ago about the potential fraud regarding its investment in PV project developer GSF, preventing the company from filing full-quarterly results since the first quarter of 2012.
Although the company recently announced it had come to a settlement of the GSF case, little has ever been revealed over the issue.
Suntech representatives were unavailable at the time of reporting to confirm or deny the media reports about the investigation and detained former and current executives.
