The Hindu : 18-year term for Chinese tycoon

Online edition of India's National Newspaper
Tuesday, Jul 15, 2003

International

International - Globescan

18-year term for Chinese tycoon

BEIJING: An orchid-selling tycoon once ranked by Forbes magazine as China's second-richest businessman, was convicted of fraud and bribery and sentenced on Monday to 18 years in prison, an assistant to his attorney said. Yang Bin, who was arrested in October soon after being picked by North Korea to run a special economic zone, also was fined an equivalent of $280,000 in Chinese currency, the official Xinhua news agency said. His company was fined $720,000. The prosecution of Yang, a Chinese-born Dutch citizen, came amid a series of investigations into leading Chinese business figures on tax and other charges. Yang and his company were convicted on all charges of illegally occupying farmland, contract fraud, bribery and forging financial documents, said the assistant to the defence lawyer. Yang plans to appeal, said the assistant. Yang's trial lasted three days last month in Shenyang Intermediate People's Court in the north-eastern industrial city of Shenyang, where his business was based. A woman who answered the phone at the Shenyang court said she ``had no idea'' about the sentence and refused further comment.

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