Shanghai court jails tycoon Xiao Jianhua for 13 years

Billionaire Xiao Jianhua, who was taken away from the Four Seasons Hotel in Hong Kong five years ago, has been sentenced to 13 years in prison by a Shanghai court for financial crimes. It also fined his Tomorrow Holdings conglomerate a record 55.03 billion yuan.The Shanghai First Intermediate Court said on Friday the tycoon had been found guilty of "illegally absorbing public deposits... and illegal use of funds".A court statement said the tycoon and his Tomorrow Holdings had "severely violated financial management order", and "hurt state financial security". From 2001 to 2021, the court said, Xiao and his holding company gave shares, real estate, cash and other assets to government officials totalling more than 680 million yuan, to evade financial supervision and seek illegitimate interests.Xiao himself was fined 6.5 million yuan for the crimes.The billionaire has not been seen in public since 2017, when he was taken from the Four Seasons Hotel in Central. In July 2020, nine of the group's related institutions were seized by Chinese regulators as part of a crackdown on risks posed by financial conglomerates.According to the Hurun Report, which ranks China's wealthiest people, Xiao was worth almost 6 billion US dollars in 2017. (Agencies)

2022-08-19 17:43:43

China has infrastructure problems

​How Taiwan Became More Free Than Australia, for Now

By: Scott Hargreaves

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One of the #ChineseRegime's biggest weapons against #Americans is something a little too close for comfort: our #Phones—and more specifically, the apps that run on them.

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Tensions are still building between #China and #Taiwan, after House Speaker Nancy Pelosi's visit to the island earlier this month. Now both sides are conducting #MilitaryExercises.

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#Canada is eying a purchase #Beijing made several years ago. It involves special strategic importance and #NationalSecurity, as Canada looks to better protect its own resources.

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Former Trump exec pleads guilty to #TaxFraud; And, the crisis worsens for #China’s property sector. Real estate developers’ cash flow drops 24 percent year over year.

That and much more coming up on NTD Business.

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“Under Mao’s #CulturalRevolution, they can find something you wrote, something you said many years ago, and then demonize you as an ‘oppressor.’ … You lose your job. You go to camps. You go to struggle sessions. Have you seen the struggle sessions in America today? It’s called less whiteness training.”

Cultural Revolution survivor Lily Tang Williams says America is descending into the same authoritarianism she ran away from in China.

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​China and Russia Collude

By: Anders Corr

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China Real Estate Is 'Ponzi Scheme': Expert; Former Trump Exec Pleads Guilty to Fraud READ: https://www.ganjingworld.com/video/Vphjz7TlERQmw?utm_medium=Social&utm_source=telegram

The Chinese regime is destroying #nations from within, in today's topic we have Rex M. Lee, #cybersecurity adviser ; John Mills, retired Army colonel ; and Greg Copley, president of the Intern. Strategic Studies Association.

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THE @EZRALEVANT SHOW:

China copies Trudeau’s language about peaceful political critics

GUEST: Mark Meincke is a veteran and the host of the Trauma Recovery Podcast.

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China is getting all the U.S. tech, and the Commerce Department is apparently helping. A new report suggests Commerce is approving requests to export tech to China. What does this mean for the U.S.-China #TechWar? And is the U.S. government serious about stopping China’s tech transfer and #IPTheft? We discuss this amid the #GlobalChipShortage.

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“The #HumanRightsIssue is one of #China's biggest weaknesses, and it hasn't really been exploited by the United States or others to actually communicate this to the international community,” said #JosephHumire.

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