China Resources chairman Song Lin investigated for graft after journalist's accusations
The central government's top anti-corruption agency said yesterday it was investigating Song Lin, chairman of the state-owned conglomerate China Resources Holdings.
The central government's top anti-corruption agency said yesterday it was investigating Song Lin, chairman of the state-owned conglomerate China Resources Holdings.
The announcement came two days after journalist Wang Wenzhi accused Song of having a mistress, Helen Yang, who worked at investment bank UBS in Hong Kong and of using her to launder large amounts of money from allegedly corrupt deals.
Song was "suspected of grave violations of discipline and law", according to a statement on the website of the Central Commission for Discipline Inspection.
The allegations are pure fabrication and vicious defamation
A person familiar with the case said Song was detained yesterday morning in Shenzhen.
Song, 51, said in a statement on Wednesday he would take legal action against those who were libelling him and denied the allegations made by Wang, a reporter at a newspaper controlled by Xinhua.
"These allegations are pure fabrication and vicious defamation," he said in the statement on his company's website.
Wang accused Song in July of deliberately overpaying for an acquisition in Shanxi province that led to a serious drain of state-owned assets. Song denied this at the time.
