(UPDATED: 5:14 PM EST, 17 DEC 2014: “Please be advised Chairman Wu has not invested in CRS Electronics in over a year. He released all shares in CRS Electronics several months ago and resigned from its Board of Directors yesterday. While we wish Chairman and Mrs. Wu every success in battling these charges, we wish to correct the record by stating he is in no way affiliated with CRS Electronics, CRS (USA), Lumenova or KVIC Lighting.”–Travis Jones, President & CEO, CRS Electronics.
(Editor’s Note: Many of the LED luminaries and components that we buy, sell, and specify in N. America are from NVC–although we may not know it because of private label agreements. In addition, Mr. Wu is the Chairman of the Board for CRS Electronics Inc. of Canada, and CRS (USA) Lighting Inc. in the USA. CRS lighting brands include Lumenova Architectural Lighting (LED lamps) and KVIC Lighting (LED luminaires.)
NVC Lighting founder and former chief executive Wu Changjiang is under criminal detention in Huizhou, Guangdong, and his 1.1 billion yuan (HK$1.37 billion) worth of shares has been frozen, according to mainland media reports.
The reports cited people from the communications department of the local police station as confirming Wu’s arrest, without saying when it happened or giving other details.