Embattled Chinese conglomerate HNA Group said Friday that its chairman Chen Feng and Chief Executive Adam Tan are suspected of committing crimes and have been detained.
HNA said on its official social media account that the pair were “placed under compulsory measures,” citing a notice from the Hainan police. It added that the company’s operations remain orderly. HNA has been under a court-led bankruptcy and reorganization proceeding since January.
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