White knight's departure adds to Leshi woes

Property tycoon Sun Hongbin steps down as chairman of troubled internet company

Chinese property tycoon Sun Hongbin has resigned as chairman of Leshi Internet Information & Technology Corp, the listed arm of Chinese internet company LeE-co, adding to the uncertainty surrounding the debt-laden company.

After only eight months as chairman, Sun will also leave the board of Leshi, and Liu Shuqing, the company's general manager, will serve as acting chairwoman before the board picks a new candidate, Leshi said in an announcement on Wednesday.