Police Statement and Wang Zhenhua

case: In keeping with local practice, the police statement gave only Wang's surname, according to CNN. Chinese state media had previously identified the main suspect in the case as Wang Zhenhua, the founder of Future Land Development Holdings. In a statement released Wednesday, police said they had taken statements from the victim, suspects and witnesses and concluded that Wang's behavior constituted alleged child molestation. His detention by police last week wiped billions of dollars off the value of his real estate companies on the Shanghai and Hong Kong stock exchanges. The arrest paves the way for them to be formally charged. The police set up a special task force to investigate Wang and another suspect after allegations against them emerged earlier this month, according to Wednesday's statement. (news.financializer.com). As reported in the news.