China jails Canadian tycoon Xiao Jianhua for 13 years for finance crimes

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A Chinese-born Canadian tycoon who disappeared from Hong Kong in 2017 was sentenced on Friday to 13 years in prison for a multibillion-dollar string of financial offences. 9News

in 2017 was sentenced on Friday to 13 years in prison for a multibillion-dollar string of financial offences and his company was fined $US8.1 billion , a court announced.

Xiao was deemed to be a Chinese citizen, which meant he wasn't entitled to see Canadian diplomats under a consular treaty between the two governments, Foreign Ministry spokesperson Wang Wenbin said.instead of his Canadian passport Tomorrow Group has been linked to a series of anti-corruption prosecutions and seizures of financial companies by regulators.

 

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