HONG KONG (AP) -- The chairman of one of China's biggest listed property developers has been arrested by Hong Kong police in connection with an indecent assault.
Agile Property Holdings Ltd. said in a brief statement Friday that Chen Zhuo Lin was arrested the day before and was released on bail.
The company said the allegation is not related to its business and the arrest won't affect normal operations. Agile owns a portfolio of 70 projects in 26 cities in mainland China, according to its website.
Chen is the latest senior Chinese company executive to be arrested in recent months. Earlier this year, a vice president at Agricultural Bank of China was detained by mainland authorities and two billionaire brothers who run Hong Kong's biggest developer were arrested in separate corruption cases.