The chairman and CEO of Chinese video game live-streaming platform DouYu has been arrested, becoming the latest business leader to run afoul of authorities in the world’s second largest economy.
DouYu (DOYU) said in a regulatory filing Tuesday that its chief, Chen Shaojie, had been arrested by police in the southwestern city of Chengdu on or around November 16. The company said it had only been informed of the arrest on Monday 20.
It “has not received any official notice of the investigation against Mr. Chen or the reasons for Mr. Chen’s apparent arrest,” it added, warning that his “ongoing detention and any subsequent related legal proceedings and enforcement actions” could have a material impact on its business.