Get Our Weekly Email Newsletter
I.T. Skills In Your China Business!IPS works with institutions and corporate clients to deliver computer skills training and ICT solutions, as well as internal assessments and benchmarking. More Info Here...
Distribute Press Releases To Chinese Media!Getting your company's message to journalists is important in China and ChinaNewswire.com can assist you in English-language releases and Xinwengao.com can provide Chinese-language distribution services. Corporate press releases are the most cost-effective way for you to connect with your customers and stakeholders in China!
Femtocells Asia 2010 @ Singapore - 2010/03/08
M-Commerce World Summit 2010 @ Singapore - 2010/03/16
4th Annual OSS BSS Asia Pacific Summit @ Singapore - 2010/03/24
Vietnam Mobile & Broadband International Summit 2010 @ Hanoi - 2010/03/25
China Mobile Internet Summit 2010 @ Beijing - 2010/04/07
Green Fuels & Vehicles China 2010 @ Shanghai - 2010/04/08
Let us work with you in China to manage your email marketing campaigns, loyalty marketing programs, email newsletters, and digital marketing efforts while we improve your email deliverability in China. Our software and staff can help your company stay #1! Visit XZList.com
Asia Media CEO Resigns After Accusations Of Embezzling Company Assets
June 30, 2008 |
Print
| 
Email
| 
Comments | Category: Business
Cui Jianping, founder and CEO of Asia Media Company Limited, the first Chinese company listed on the Tokyo Stock Exchange Market in Japan, has resigned, after taking the blame for embezzling the company's funds.
AMCL announced on its Japanese-language website that Jiang had embezzled the company's asset without the approval of the board of directors and used a CNY106.9 million time deposit of Beijing Kuanshi Network Technology Company, a wholly-owned company of AMCL, to sponsor a bank loan of CNY103 million for Beijing Haitun Technology Company which he previously managed. In addition, he used part of the funds to pay off his personal debt.
Ma Kehe, the newly appointed CEO of AMCL, says that the incident has posed a big blow to the investors of AMCL which is now making adjustments on its management and advancing its business to resume investors' confidence in the company.
Previously, AMCL said that it would ascertain Jiang's responsibilities and might file a shareholder lawsuit against him.
Established in July 2004, AMCL is a Beijing-based company that specializes in providing television program guides via cable television networks and television advertisement services. Set up in April 2002, Beijing Kuanshi Network Technology Company became a wholly-owned subsidiary of AMCL in July 2004.
Recommend this page: 
Loading ...One Response to “Asia Media CEO Resigns After Accusations Of Embezzling Company Assets”
Leave A Comment:
Copyright 1999-2010 ChinaTechNews.com. All Rights Reserved.
If you would like to syndicate these articles and posts for personal non-business use where you will not gain in any monetary way, please utilize the RSS feed for this online publication, which provides a brief summary of each post with a link back to the original article. Posting of any other part of the articles or posts on this website, in whole or in part, is expressly prohibited without express written permission from ChinaTechNews.com. No part of this website may be copied, transferred, posted, or published without the express written permission of ChinaTechNews.com or its registered agents. Content on this website, including articles, opinions, and data are protected under international copyright laws. Failure to comply with these rules will result in legal action. 
this guy is stupid. any transaction thru the bank can be traced. what a disgrace to the company…