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Chinese electronics tycoon in court

Summary

23 April 2010

The trial of Huang Guangyu, who was once China's richest business person, has begun. He is accused of illegally using inside knowledge for his own financial gain.

Reporter:

Chris Hogg

Report

Huang Guangyu built a billion dollar business from almost nothing. He dropped out of school and started selling batteries and radios on a market stall nearly 30 years ago. His business grew into a chain of more than thirteen hundred stores across China. Canny investments in property helped him build a fortune estimated to be in excess of 6.3 billion-dollars.

In 2008 he topped the Hurun Report's China rich list. A few months later he was arrested and he's been in detention ever since. He faces charges of insider trading and bribery. His wife and a business associate are on trial with him. A subsidiary of 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 will not be open to the media is expected to last three days.

Chris Hogg, BBC News, Shanghai