**A tycoon who only recently topped China’s rich list has gone on trial on charges of insider trading and bribery.**Huang Guangyu - the founder of China’s second largest chain of electronics stores - has been in detention since January last year.
Huang Guangyu built a billion dollar business from almost nothing, after dropping out of school and starting a market stall nearly 30 years ago.
His business grew into a chain of more than 1,300 stores across China.
Too rich?
Canny investments in property helped him build a fortune estimated to be between $2.7bn (£1.72bn) and $6.3bn at the time of his arrest**.**
In 2008 he topped the Hurun Report’s China Rich list.
A few months later he was arrested and has been in detention ever since.
His wife and a business associate are on trial with him.
Gome, the firm he founded, is also accused of corporate bribery.
Huang Guangyu stepped down as the firm’s chairman last year, but is still its largest shareholder.
The trial, which is not open to the media, is expected to last three days.
It will be watched closely by the business community in Beijing. The case will be the highest profile yet involving an entrepreneur in China.
Opinion polls in the state controlled media suggest many Chinese are suspicious of those who have made a great deal of money during China’s economic reforms, believing them to be corrupt.This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
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