Daily Archives: August 21, 2022

Shanghai court sentences Chinese-Canadian billionaire Xiao Jianhua to 13 years in prison

A Shanghai court has sentenced Chinese-Canadian billionaire Xiao Jianhua to 13 years in prison and ordered him to pay a fine of 6.5 million yuan (CAD 1.2 million) on charges of the illegal absorption of public deposits, breach of trust in the use of entrusted property, illegal use of funds, and bribery.