Reported about 1 year ago
Sin Kong Life, with 420,000 shareholders, is under investigation for fraud, with authorities conducting a large-scale search and summoning former chairman Wu Dongjin and others for questioning. Sin Kong Life released a statement in the evening confirming cooperation with the search, emphasizing it is unrelated to their operations. This incident stemmed from the Investigation Bureau's search at Sin Kong Life for specific property-related information. The investigation is related to alleged financial irregularities, including inflated project expenses, at the 'Sin Kong Sinban Jieshibao' project in Banqiao.
Source: YAHOO