China begins probe into former chairman of Manassen Foods owner

By Fergus Ryan

Wang, 59, is also alleged to have embezzled public funds while serving as chairman of Shanghai Friendship Group and Lianhua Supermarket Holdings, according to a statement posted on the Shanghai Municipal People’s Prosecution Service website.

Wang Zhongnan, a former chairman of the Chinese owner of Australia’s Manassen Foods, is under investigation by Shanghai prosecutors on suspicion of taking bribes.

The state-owned foodmaker bought Manassen Foods in 2011 and also owns Mildura Fruit Company, one of nation’s biggest fruit exporters.  Bright Foods is not implicated in the investigation.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Read more here: Business Spectator


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