Huang Guangyu, founder of the Gome electronics retail chain, has gone on trial on charges of insider trading and bribery, Xinhua reports. Huang has been in detention for more than a year and was indicted in February. The trail opened last Thursday in the Beijing No. 2 Intermediate People’s Court, the state newsagency says. Huang stands accused of illegal foreign exchange trading via Hong Kong in 2007 and insider trading of Shenzhen-listed technology stocks. He is also accused of offering bribes of 4.6 million yuan ($667,600) to a number of officials. The 41-year-old tycoon was once China’s richest man but last year topped Xinhua’s list of most disgraced executives.
Update: The trail has concluded. In truth it was probably done by the time its opening was announced. No verdict has been announced. Anything less than a conviction and 10 years imprisonment would be a surprise.