Fugitive Guo Wengui's company fined, employees sentenced for fraud

Updated 2017-08-04 13:00:34 Xinhua

A company of one of China's most-wanted fugitives Guo Wengui has been fined 150 million yuan (22.3 million U.S. dollars) for crimes of fraudulently obtaining loans and bill acceptance, according to a court ruling issued Friday.

Two employees of Henan Yuda Real Estate Company were sentenced to prison terms ranging from 18 months to two years and another employee was exempted from criminal penalty, according to Kaifeng City Intermediate People's Court.

The defendants said they committed the crimes under direction from Guo Wengui.

Guo, the "actual controlling shareholder" of the company, fled China under suspicion of multiple crimes in August 2014 and is currently listed under an Interpol "red notice" for wanted fugitives.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 19 2018 09:22:53

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 19 2018 09:22:53

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 19 2018 09:22:53

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords