Mystery tycoon Ye Jianming under investigation in China, Czech presidential office says
Shanghai officials told visiting delegation the entrepreneur would no longer be a CEFC shareholder or executive, while a source says he has not been arrested
Mystery tycoon Ye Jianming is being investigated by Chinese authorities for “suspicion of violation of laws”, the Czech presidential office said after it sent a delegation to Shanghai to find out more about Ye’s company CEFC Group.
The energy and financial services company, registered in Shanghai, has made sizeable investments in the Czech Republic.
President Milos Zeman’s office said in a statement that it sent the delegation, headed by Zeman’s chief of staff Vratislav Myná, to Shanghai and spoke to municipal officials about the operation following media reports that Ye was under investigation.
The Chinese authorities have not confirmed or denied that Ye – who rapidly built a business empire worth 263 billion yuan (US$42.49 billion) – has been detained, but he has not been seen in public for months.
A source familiar with the matter told the South China Morning Post that Ye had not been arrested but was assisting authorities with inquiries. Ye was also trying to keep a low profile.
“He has not been arrested, but he’s helping to answer some questions,” the source said. “He wants to avoid any public attention for a while, so he’s staying out of view at the moment.”