China Securities Regulatory Commission: Wang Xiaolu, who works for Caijing magazine, was nabbed shortly after markets crashed over the past fortnight, according to Nine News Australia. He then reportedly "confessed" to spreading "false information" that "caused panics and disorder at stock market, seriously undermined the market confidence, and inflicted huge losses on the country and investors", according to state media agency Xinhua. A Chinese journalist has reportedly confessed to causing "panic and disorder" on the Chinese stock market after he was detained for spreading fabricated information. The accusations apparently stem from an article Wang wrote last month about the China Securities Regulatory Commission stating that the body was working on devising a way to remove government money from the market. The latter two charges were levelled against Liu Shufan, an official with the regulator, who "confessed" to forging an official seal in order to fake divorce taxation certificates for his mistress. The regulator rejected the claim and decried the story as the CSRC is having its own problems, with four of its senior executives detained for "market violations", as well as taking bribes and forging official accreditation.
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Tagged under China Securities Regulatory Commission, Wang Xiaolu topics.