Scandal-Plagued Amethystum Says Controlling Shareholder Detained

What’s new: The controlling shareholder and former chairman of Chinese optical storage equipment supplier Amethystum Storage Technology Co. Ltd. has been detained by police on alleged securities fraud, nearly six months after the company was kicked out of Shanghai’s STAR Market.

Zheng Mu, former chairman of Amethystum, and former director Luo Tiewei, who acts in concert with Zheng, were arrested by police in Meizhou, Guangdong province, in late October, Amethystum disclosed this week.