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Chinese Actress Zhao Wei and Her Husband Banned 5 Years from China’s Securities Markets for Market Violation

Chinese Actress Zhao Wei and Her Husband Banned 5 Years from China’s Securities Markets for Market Violation

Chinese actress Zhao Wei and her husband Huang Youlong, with an estimated fortune of almost $2 billion, have been barred from China’s securities markets for five years. China Securities Regulatory Commission (CSRC), which oversees the capital market in China,  found both parties guilty of breaching disclosure rules and announcing false information to mislead the market.

“Chinese actress Zhao Wei and her husband are banned from China’s securities markets for market violations for 5 years”

Through Longwei Culture & Media, it was to acquire target company – Zhejiang Sunriver Culture Co, then named Zhejiang Wanjia Co.  Zhao Wei and Huang Youlong have announced and played up merger and acquisition intentions without sufficient resources or backing from financial institutions. For this offense, each individual, along with an executive of the company they controlled, was fined 300,000 yuan ($45,000) by the CSRC.

Source: South China Morning Post, Global Times

 

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