China Gome tycoon Huang Guangyu charged with bribery

By Chris Hogg BBC News, Shanghai

Mr Huang's vast personal wealth has put him in the authorities' spotlight

One of the richest private entrepreneurs in China is to stand trial accused of bribery, insider trading and illegal business dealings.

The confirmation of the indictment laid against Huang Guangyu on Friday has come from state media.

Mr Huang founded Gome, China's largest chain of electronics stores.

He was arrested on suspicion of share manipulation in November 2008, a month after he had been labelled China's richest man.

He was placed under investigation and two months later, resigned as the director and chairman of the chain of 1,200 electronics stores he had built up from nothing.

He has been held in detention ever since.

Suspicion

The charges now laid against him are more wide ranging than those detailed at the start of the investigation.

The indictment said accomplices will join him on trial in Beijing, without naming them.

Two senior police officials have been accused of bribery in connection with the case.

The trial will be watched closely by the business community in Beijing. It will be the highest profile case yet involving a private entrepreneur in China.

Opinion polls in the state controlled media suggest many Chinese are suspicious of those who have made a great deal of money during China's economic reforms, believing them to be corrupt.

Mr Huang's wealth was estimated to be between $2.7bn (£1.72bn) and $6.3bn (£4bn) at the time of his arrest.

He was listed as China's wealthiest man by the Hurun report, a publication that tracks the wealth of China's business elite.