Real estate developer SOHO China has confirmed that CFO NI Kuiyang is under investigation by the police on suspicion of insider trading in company shares. The company claims that no senior officers were aware of the matter.
Ni “has been and will be unable to perform her role as the chief financial officer of the company until the investigation is completed.” Her duties have been transferred to the financial controller.
As of today’s close, shares of SOHO China dropped 2.78 percent to HK$1.4 (1.2 yuan).
