One of China's richest men was yesterday caught up in the murky and politically sensitive trial of four Rio Tinto employees in Shanghai, when one of the accused named Du Shuanghua, one of China's top steelmakers.
Mr Du – who was China's second-wealthiest man in 2008, according to the Hurun rich list – gave $9m to Wang Yong, one of the accused Rio executives, the court was told.
Mr Wang's lawyer says his client denies that the money was a bribe, but rather a loan to buy shares in Hong Kong.
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