THE ‘PRICE BUTCHER’ VANISHES

China’s second-richest man, Huang Guangyu, chairman of China’s largest home appliance chain, has vanished amid reports that he is being investigated by police for possible securities fraud. Other reports suggest that the 39-year-old, who is worth an estimated US$2.7 billion according to Forbes, is being questioned about possible illegal trading in a Shanghai-listed pharmaceutical firm controlled by his brother. The uncertainty about the whereabouts of the man nicknamed “the Price Butcher” has been magnified by rumours that his wife and one of his top financial officers left the country to avoid detention. Huang’s company, Gome, claims it has not heard from him in days. The Hong Kong-listed company put a halt on the trading of its shares Monday. In 2006, Huang and his brother were in­vestigated for alleged financial irregularities in a real estate loan. He was cleared of any wrongdoing but has been under a watchful eye ever since.