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China Sentences Tycoon Xiao Jianhua to 13 Years, Fines his Company €8bn

China Sentences Tycoon Xiao Jianhua to 13 Years, Fines his Company €8bn
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China sentences tycoon Xiao Jianhua to 13 years, fines his company $8 1B

A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China.

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