The founder of the Chinese-language energy company Hanergy Li Hejun has reportedly been detained by the police

The businessman, once ranked China's richest man, was taken to the northeastern city of Jinzhou last month, according to Caixin magazine.

Li was previously banned from listing as a director in Hong Kong after a 2015 percentage price crash in which his organization lost almost half its value in minutes.

the founding father of the Hanergy organization, was detained by police in Jinzhou, a city in the northeastern province of Liaoning, on December 17, the financial magazine

The bank said it gave nearly 10 billion yuan ($1.5 billion) to the energy institution when its subsidiary Hanergy thin film made an initial public offering in the Hong Kong inventory

Li ranked using the Hurun file as China's richest guy in 2015 with US$26 billion on his way to a more than seven-fold increase in Hanergy's percentage rate within a year

But a sudden promotion in May 2015 also saw the company's price drop 47 percent, dropping a total of HK$144.2 billion, in just 20 minutes.

The promotion came as Li became the speaker at the organization's annual shareholder meeting, vowing to build a business empire bigger than Apple

Li was later forced to delist the organization in 2019 after an investigation through the Hong Kong Securities and Futures fee.

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