The chairman of CEFC China Energy, Ye Jianming, has been taken in for questioning over alleged involvement in economic crimes, private sources told Reuters, although details of the investigation have not been released.
CEFC China Energy is one of China’s fastest growing energy companies, having acquired a wide portfolio of assets from around the globe. The most notable deal is the ongoing purchase of a 14% stake in Russia’s oil giant Rosneft for $9.1 billion.
Reports of the investigation mirror last week’s story of the government’s takeover of insurer Anbang and prosecution of CEO Wu Xiaohui for economic crimes. Both companies have aggressively expanded in recent years through buying up foreign assets, flagging the attention of the increasingly risk-prone central government.