Source: ReutersThe chairman of Tongling Nonferrous Metals, the country's second-largest copper smelter, committed suicide due to work-related stress, the company said on Wednesday, citing the results of a police investigation.
Wei Jianghong, who was also chief executive of the state-owned firm, died on Tuesday morning after he jumped off a building, Tongling said in a statement to the Shenzhen Stock Exchange.
"Preliminary investigations by authorities, which included surveillance videos on-site and interviews with relevant personnel, suggests Wei Jianghong committed suicide due to immense work-related stress and long-term insomnia," the company said in a statement.
Natch, there is speculation that this is connected to the investigation of widespread fraud in metal-backed financing. If it turns out that some high-level firms were engaged in such fraud then the whole thing could unwind and it would cause a lot of havoc in the broader financial system that would ultimately have a severe global impact.