Investigators seize documents from First Dragoncom, which also faces a creditor's claims over an alleged unpaid loan
The Commerce Crime Bureau announced yesterday that it had seized documents at First Dragoncom Agro-Strategy Holdings last month as part of an investigation into the $126 million missing from the accounts of the agricultural company.
The company has been suspended from trading on the stock exchange since the end of April. Its share price closed at 4.3 cents just before it halted trading.
First Dragoncom makes and sells eel and shrimp feeds as well as nurture, sell and trade tree seedlings in the mainland through its principal, 70 per cent-held subsidiary Hebei Bashang Plant Seeds.
Company chairman Lau Man-kin declined to comment, saying the case had been handed over to the police.
He said that the company was talking to a potential investor, independent of the present management, for a possible fund injection.