Zhongjin Gold executive tarnished in graft investigation

[BeamMeUpScotty]

Zhongjin Gold executive tarnished in graft investigation

Wang Ronghu’s detention comes two days after the mainland’s anti-graft watchdog announced a probe into Sun Zhaoxue, his former boss

PUBLISHED : Friday, 19 September, 2014, 2:02pm
UPDATED : Friday, 19 September, 2014, 3:58pm

Mandy Zuo [email protected]

Wang Ronghu, the general manager of Zhongjin Gold, was taken away by prosecutors on Wednesday. Photo: SCMP Pictures

A top executive of Zhongjin Gold, a subsidiary of China National Gold Group, has been placed under investigation.

General manager Wang Ronghu was taken away by prosecutors on Wednesday and would not be able to perform his duty, the company announced today on its website, saying board member Wang Jinding would be taking over the job temporarily.

Wang Ronghu’s detention came just two days after the mainland’s anti-graft watchdog announced a probe into Sun Zhaoxue, formerly Wang’s boss, for “serious violations of laws and disciplines”, usually a euphemism for corruption.

Wang, 50, was promoted to his current position in late 2012 by Sun, then China Gold’s general manager and party secretary.

Prior to that, Wang worked in various gold units in Liaoning province with China Gold.

Sun, 52, has recently been a non-executive director and vice-chairman of Aluminum Corp of China, the country’s largest smelter of the lightweight industrial metal.

The 21st Century Business Herald previously reported that the corruption probe of Sun centres around the purchase of mines during his work at China Gold.

There were a number of high-premium projects among the mines he acquired during this period, an unnamed source was quoted as saying.