Beijing, August 19
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 and his company was fined $8.1 billion, a court announced. 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, a Shanghai court said. Xiao was fined $950,000 and his company $8.1 billion. — AP
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