Media executives arrested for suspected of blackmail, forced transactions

Executives of the influential 21st Century Business Herald were arrested by the First Branch of the Shanghai People's Procuratorate on Thursday.

Those arrested included Shen Hao, president of the 21st Century Media Ltd., vice president Chen Dongyang, vice president and chief financial officer Le Bing.

The prosecutors accused the 21st Century Business Herald, the website affiliated to the publication, Money Week, and eight companies under the group, of blackmail and forcing transactions.

Shen was also accused of taking bribes as a non-state staff, duty encroachment and embezzlement.

Shen and Chen were taken away by the police in late September.