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.”
RELATED TOPICS:
Categories
Aryan Brotherhood Prison Gang Leader Accused of Attacking Two CA Prison Guards
Trump Transition Says Cabinet, Appointees Were Targeted by Bomb Threats, Swatting Attacks
Do You Own a Pyrex Measuring Cup? You May Be Owed a Refund
California AG Charges Construction Firm With Felony Wage Theft and Tax Evasion
