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Billionaire Xiao Jianhua jailed for 13 years in China



19 August 2022


A Chinese-Canadian billionaire has been sentenced to 13 years in prison in China and his company fined more than $8bn (£6.7bn).


Xiao Jianhua and his company Tomorrow Holdings were charged with embezzlement and bribery, a court in Shanghai said.


Xiao - one of China's richest people - was last seen being whisked away from a luxury hotel in Hong Kong in 2017.


There had been no official word from him since, until the Canadian embassy said in July he would be facing trial.



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