Share
CNN
Beijing (CNN Business) – A Chinese billionaire who criticized President Xi Jinping’s handling of the coronavirus pandemic has been jailed for 18 years on corruption charges, a court said Tuesday.
Ren Zhiqiang, a retired real-estate tycoon with close ties to senior Chinese officials, disappeared in March after he allegedly penned a scathing essay that month criticizing Xi’s response to the coronavirus epidemic. He was later charged with corruption-related offenses.
On Tuesday, a court in Beijing found Ren guilty on multiple charges, including embezzling some $16.3 million (110.6 million yuan) in public funds, accepting bribes, and abuse of power that caused losses totaling $17.2 million (116.7 million yuan) for the state-owned property company that he once headed.
Judges sentenced him to 18 years in prison and imposed a fine of $620,000 (4.2 million yuan). The court said he “voluntarily confessed all of his crimes” and “was willing to accept the court’s verdict after all of his illegal gains were recovered.”
By Steven Jiang | 22 Sept 2020
RELATED TOPICS:
CA Has Seen Many New Towns, but This Big Project Is Stalled
2 hours ago
Fresno Man Sentenced to 29 Years for Sexually Assaulting Children and Dog
14 hours ago
Bulldogs’ Two-Position Standout Tommy Hopfe Signs With Rockies
14 hours ago
Former Bulldog QB Jake Haener: I Have a ‘Rare Form of Skin Cancer’
15 hours ago
The Many Names of GOP Vice Presidential Nominee JD Vance
16 hours ago
Jack Black, a Small Dog With a Big Heart, Is Looking for His Forever Home