Chinese tycoon arrested

Officials in China have confirmed the arrest of one of the country’s richest men.



They say the founder and chairman of Gome Electrical Appliances Holdings, Huang Guangyu, is now in police custody while they investigate him for economic crimes.



Mr. Huang went missing last week and shares in his company Gome have been suspended from trading.



Officials gave no further details, but Chinese media are pointing to alleged irregularities in the share price of a company controlled by his brother.



39 year old Huang is said to be worth about $6 billion.