SINGAPORE/SHANGHAI—A Chinese trading executive at Litasco SA has been detained by police in Shanghai for alleged tax fraud committed in late 2015 before he joined the company, three sources with knowledge of the matter told Reuters.
Li Buhua, the chief representative in China for Litasco, the Swiss-based trading arm of Russian oil producer Lukoil, was detained in mid-April by the Putuo Branch of the Shanghai Public Security Bureau, said one of the sources, a law enforcement official with direct knowledge of the matter, adding that no charges have been made against Li.
