Seazen Holdings' chairman held in criminal custody for 'personal reasons'

A black swan seemed to be looming in front of the property empire Seazen Holdings soon after its chairman was detained on suspicion of molesting a nine-year-old girl.

The Putuo branch of the Shanghai Public Security Bureau said in a notice on Wednesday night that a 57-year-old suspect surnamed Wang was accused of molesting a girl on June 30. The suspect has been held in criminal custody by Putuo police.

The A-share listed Seazen said in an exchange filing late on Wednesday that its chairman Wang Zhenhua - the company's actual controller - has been held in criminal custody for "personal reasons".