Executive of investment company sentenced to prison for fraud

Updated 2017-06-16 11:30:06 Xinhua

Lyu Tao, a senior executive of Beijing Pangu Investment Co. Ltd, has been sentenced to two years and three months in prison for obtaining loans and foreign exchange by fraud, according to a court ruling issued Friday.

The company has been fined 245 million yuan for obtaining loans by fraud, according to the People's Court of Xigang District, northeast China's Dalian City.

Two employees, Xie Honglin and Yang Ying, were both sentenced to two years in prison with a three-year reprieve.

The three defendants and the representative of the company accepted the ruling at the court and said they won't appeal.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 16 2018 11:24:08

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 16 2018 11:24:08

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 16 2018 11:24:08

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