Gu Chujun Explained

Gu Chujun is a Chinese convicted criminal and former business executive and entrepreneur. He is a native of Yangzhou, Jiangsu Province.

He studied at Tianjin University and became the Chief Executive Officer of Greencool Holdings in Hong Kong and the Kelon Group.^[1]

He acquired Hisense Kelon, Meiling Electrical Appliance, Jinnuoer, Qihuawa, Xiling, Yanxing Bus and Xiang Bearing.^[2] In 2001, Forbes magazine ranked him as China's 20th richest man.^[3]

As an outcome of the Lang–Gu dispute, in January 2008, Gu was sentenced to 10 years in prison and a fine of 6.8 million yuan after a conviction for falsifying corporate reports.^[4] An appeal against the conviction was rejected in April 2009.^[5] Hisense Kelon also won damages of 30.15 million yuan in a civil case against Gu.^[6]

References

1. see China vitae and Guangdong Kelon Electrical Holdings Co. Ltd “Its former chairman Gu Chujun and six other senior executives were arrested in September” (2005) (china.com)
2. Qinglian He: China in der Globalisierungsfalle, Edition Hamburg 2006, p.64
3. News: Chung . Chien-Min . Why Not to Be the Richest Man in China . . 25 November 2008 . https://web.archive.org/web/20081128174606/http://www.time.com/time/world/article/0,8599,1861945,00.html . dead . November 28, 2008 . 13 December 2009.
4. News: China appliance tycoon to serve 10 years for fraud . Reuters . August 20, 2009 . 13 December 2009.
5. News: Court Rejects Appeal Of Convicted Ex-Kelon Chief . www.caijing.com.cn . 10 April 2009 . 13 December 2009.
6. News: Appliance maker wins court ruling . China Economic Net . 12 January 2009 . 13 December 2009.