Two companies and former employees went on trial in Dalian in Northeast China's Liaoning province on Friday for alleged misappropriation of funds and duty encroachment to help fugitive Chinese billionaire Guo Wengui to illegally possess 400 million yuan ($60 million) in funds.

Qu Long, a member of the board of directors of Tianjin Huatai Holding Group Co Ltd, and Zhao Yun'an, former legal representative of Huatai, are charged with reported misappropriation of funds and Gao Song, Ma Nan and Cheng Xiuhua who worked for Beijing Pangu Investment, controlled by Guo Wengui, are charged with allegedly encroachment.