May 12, 2019 / 11:50 PM / 10 days ago

Chinese police take 'criminal compulsory measures' against Kangde Xin shareholder

SHANGHAI (Reuters) - Chinese police have taken “criminal compulsory measures” against a major shareholder of Kangde Xin Composite Material Group Co over suspected crimes, the Public Security Bureau of Zhanjiagang city said.

Kangde Xin said last week its auditor could not confirm the authenticity of its bank deposits worth 12.2 billion yuan ($1.8 billion).

Reporting by Samuel Shen and John Ruwtich; Editing by Stephen Coates

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