Jun 22, 2022 08:35 PM

Sacked Head of Chinese Property Firm Claims Conspiracy Amid Insider Trading Allegations

Former chairman of Gree Real Estate Lu Junsi.
Former chairman of Gree Real Estate Lu Junsi.

The former head of a Chinese real estate developer is fighting back against accusations of insider trading that led to his recent detention by police, claiming he is the target of a conspiracy.

Lu Junsi, ex-chairman of Gree Real Estate Co. Ltd. (GRE) (600185.SH), said police in Shangrao, a city in East China’s Jiangxi province, acted illegally during their investigation after he reported six individuals for insider trading, according to letters that were circulated on the internet on Sunday.

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