Aoxin Q & M Dental's Former CEO Faces Further China Probe Over Alleged Fraud; Shares Down 4%

MT Newswires07-06

Aoxin Q & M Dental's (SGX:1D4) former chief executive officer, Shao Yongxi, is now facing further investigation related to obtaining funds from whistleblowers for his own personal use, according to a Friday filing with the Singapore Exchange.

Shares of the dental services company were down over 4% in Monday trading.

Under the latest claims, the number of persons to whom the ex-CEO tried to sell shares could be more than four, while the number of shares could also not be limited to 2.8 million shares.

One of the affected individuals claims to have given Shao funds of 6.5 million yuan for the sale of around 6.9 million shares to him, in a police report lodged on July 2.

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