Shanghai police have detained a man suspected of fabricating online rumors that a female executive at State-owned oil giant Sinopec accepted sexual favors as a bribe from a US supplier, and that the supplier subsequently blackmailed her.

Fu Xuesheng, 47, president of Shanghai LabInfo Technologies Ltd, also faces an allegation of making up a rumor that a police chief accepted more than 2 billion yuan ($327 million) in bribes and murdered an entrepreneur.

Police said Fu made up the rumors to vent his anger at Sinopec and a company involved in the rumor involving the police chief.