Billionaire Xiao Jianhua jailed for 13 years in China

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Chinese-Canadian’s firm fined record 55.03bn yuan on charges including illegally taking funds from publicXiao Jianhua, a Chinese-Canadian billionaire at the centre of an alleged abduction scandal in Hong Kong in 2017, has been sentenced by a Shanghai court to 13 years in prison and his company fined a record 55.03bn yuan (£6.8bn).Xiao, 50, and his Tomorrow Holdings conglomerate were charged with illegally absorbing public deposits, betraying the use of entrusted property, and the illegal use ...

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