Jan 16, 2014 05:04 PM

Founder of Company that Makes Beidou Equipment Arrested for Taking Funds

By staff reporter Liu Zhuozhe

He Yan

(Beijing) – The founder and controlling shareholder of the company that makes equipment for China's Beidou navigation system has been arrested on charges of misappropriation of funds.

Gotecom Electronic Technology Co. Ltd. made the announcement regarding He Yan, 53, on January 15. The firm, which is based in Chengdu, in the southwestern province of Sichuan, said the episode is not affecting its business.

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