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China jails Canadian tycoon for 13 years for finance crimes

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Xiao Jianhua was last seen at a Hong Kong hotel in January 2017. At the time of his disappearance, he was worth nearly $6 billion

Xiao was last seen at a Hong Kong hotel in January 2017 and was believed to have been taken to the mainland by Chinese authorities. News reports later said he was under investigation by anti-graft authorities, but no details were released.Tomorrow Group has been linked to a series of anti-corruption prosecutions and seizures of financial companies by regulators.Article content

Since then, Beijing has tightened control over Hong Kong, prompting complaints it is violating the autonomy promised when the territory returned to China in 1997. The Communist Party imposed a national security law in Hong Kong in 2020 and has imprisoned pro-democracy activists.Article content

 

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China jails Canadian tycoon for 13 years for finance crimesA 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 offenses and his company was fined US$8.1 billion, a court announced. Need to start doing that here.
Source: CTVNews - 🏆 1. / 99 Read more »