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Chinese-Canadian Billionaire Xiao Jianhua Sentenced to 13 Years Jail in China & Tomorrow Holdings Fined $8 Billion for Embezzlement & Bribery
26th August 2022 | Hong Kong
Chinese-Canadian billionaire Xiao Jianhua had been sentenced to 13 years jail in China, with his company Tomorrow Holdings fined $8 billion for embezzlement & bribery (illegally collecting public deposits, misuse entrusted property, illegal use of funds & bribery). The Shanghai court announced that both Xiao Jianhua and Tomorrow Holdings had pleaded guilty and cooperated with the authorities, and thus the sentencing severity had been reduced. China does not recognise dual citizenship, with Xiao Jianhao reported to have hold a Canadian citizenship in addition to his native China citizenship. In 2017, Chinese-Canadian billionaire Xiao Jianhua was escorted out of the Four Seasons Hotel in Hong Kong, where he was residing. (Bloomberg: Tomorrow Holding Co Ltd is headquartered in China. The Company’s line of business includes holding or owning securities of companies other than banks.)
“ Chinese-Canadian Billionaire Xiao Jianhua Sentenced to 13 Years Jail in China & Tomorrow Holdings Fined $8 Billion for Embezzlement & Bribery “
Spotlight on China: Xiao Jianhua
https://youtu.be/0YP5ep26BvQ
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