China’s wealthiest actress Zhao Wei has been banned from holding key positions at her companies for five years for violating securities regulations.
Zhao Wei is the second and has been sanctioned by China this year, after only one month, Fan Bingbing was fined for tax evasion. Accordingly, Zhao Wei and Huỳnh Hữu Long and some other officials of Tibet’s Longwei Culture Media and Zhejiang Sunriver Culture Co Ltd will not be appointed as directors, supervisors and senior executives of companies. for 5 years.
By the end of 2016, Tibetan Longwei Culture Media, controlled by the couple, had failed to acquire a 29.1% stake in Zhejiang Wanjia, later taken over by another investor and renamed Zhejiang Sunriver Culture. The cause of the sale was not because of the company’s lack of financing Trieu Vy.
China Securities Regulatory Commission has investigated Tibet Longwei Culture Media for deliberately providing misleading information that misleads investors into successful trading, causing securities market disruptions. Because of the name and influence of Zhao Wei, the incident caused bad impact, the value of shares of Zhejiang Wanjia fluctuate continuously.
In November 2017, the spouses were banned from the stock market for five years, and fined 300,000 yuan ($ 1 billion) each.