Asian investor arrested - Solomon Star News

Asian investor arrested

14 September 2017
Chinese Investor Shiyao Guo armed with a knife when confronted by police. [Photo supplied]

CHINESE investor Shiyao Guo was arrested by police yesterday in Honiara after he rejected a court order to vacate an apartment he occupied at Town Ground.

Guo is a shareholder within the China United Corporation Limited and a former director.

The Asian man is the main investor behind the development of the Town Ground rugby complex.

He was taken to court by other directors namely Zhou Zonghu and Ling Yun of the China United Corporation for alleged misuse of company’s money.

He lost the case and was given a high court order to leave the apartment he occupied on July 11 this year.

Zonghu and Yun have 90 percent share in China United Solomon Islands while Guo only have 10 percent share.

Guo refused to leave the complex since then and yesterday police made the move to arrest him around 3pm.

A security officer told the Solomon Star Guo and his son Junbin Guo confronted police officers when approached.

“Guo confronted the officers with what looks like a kitchen knife and his son argued with the police.

“Great work by the police since they are professional to handle such situation and successfully arrest the two,” he said.

Jennifer Sifoni, who worked with Guo for almost seven years, revealed to this paper Guo was also removed from management.

“I have known Guo for more than six years now and he was sacked by the China United board of directors.

“The police were frank with him as they told him to leave the building within one week.

“The company also agreed to pay for his accommodation in any hotel but not to occupy the company’s property since he is no longer part of the management.

“Because we fear he might interfere with our work as a former manager,” she said.

She added Guo was the investor who made the agreement between Solomon Islands Rugby Union Federation (SIRUF) and the government to develop the Town Ground complex but offered the project to offshore investors who owned 90 percent.