Published 2 years ago

Chinese-Canadian billionaire Xiao sentenced to 13 years in prison

Summary by Ground News

A Shanghai court has sentenced Chinese-Canadian billionaire Xiao Jianhua to 13 years in prison and fined his Tomorrow Holdings Co conglomerate a record 55.03 billion Chinese yuan ($8.1bn). Xiao and his Tomorrow Holdings were charged with illegally absorbing public deposits, betraying the use of entrusted property, and the illegal use of funds and bribery. Xiao was fined 6.5 million yuan ($954,655) for the crimes, the court said. China-born Xiao, known to have links to China's Communist Party elite, has not been seen in public since 2017.

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Times of India

China court sentences Chinese-Canadian billionaire Xiao to 13 years in prison

China News: CHINA-TRIAL-China court sentences Chinese-Canadian billionaire Xiao to 13 years in prison

2 years ago·India

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BBC News

Billionaire Xiao Jianhua jailed for 13 years in China

Chinese-Canadian tycoon Xiao Jianhua disappeared from a luxury hotel in Hong Kong in 2017.

2 years ago·United Kingdom

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The Guardian

Billionaire Xiao Jianhua jailed for 13 years in China

Chinese-Canadian’s firm fined record 55.03bn yuan on charges including illegally taking funds from public

2 years ago·London, United Kingdom

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The Hindu

China jails Chinese-Canadian tycoon for 13 years for finance crimes

Xiao Jianhua was convicted of misusing billions of dollars of deposits from banks and insurers controlled by his Tomorrow Group and offering bribes to officials

2 years ago·India

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Reuters

China sentences tycoon Xiao Jianhua to 13 years, fines his company $8.1 bln

Xiao and Tomorrow Holdings were charged with illegally siphoning away public deposits, betraying the use of entrusted property, and the illegal use of funds and bribery, the Shanghai First Intermediate Court said.

2 years ago·United Kingdom

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CBC News

Xiao Jianhua, Chinese-Canadian billionaire, sentenced to 13 years in prison in Shanghai

A Chinese-born Canadian tycoon who disappeared from Hong Kong in 2017 was sentenced Friday to 13 years in prison for a multibillion-dollar string of financial offences and his company was fined $10.5 billion, a court announced.

2 years ago·Canada

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