Execs at Peking University's Founder Group detained for questioning

Chairman Wei Xin, president Yu Li and chief executive Li You of Peking University’s Founder Group–parent of Founder Securities (601901.SHA)–have been detained by authorities “to assist with investigations”, South China Morning Post reported, citing an announcement from the company. Beijing Zenith Media, the second-largest shareholder in the securities company, has been making various and sundry allegations of corruption among Founder Group’s top management, including accusations of insider trading. A court had already frozen RMB3 billion (US$482.3 million) of Founder Securities’ assets following complaints from Zenith.