Billionaire Founder of Troubled Hanergy Under Arrest

Li Hejun, the billionaire founder of troubled solar energy giant Hanergy Thin Film Power Group, was detained by police in northeast China’s Liaoning province, Caixin learned from multiple sources.

Li, the former chairman of Hanergy who was once China’s richest man, was taken away by police in Jinzhou city Dec. 17 to assist investigators and had not yet returned as of Tuesday, several former employees of Hanergy told Caixin. The reason for Li’s detention is unclear.