Former chairman of Anbang Insurance Group, Wu Xiaohui, who is starting an 18-year prison sentence after being convicted of fraud and embezzlement. Photo: Reuters

Anbang’s ex-chief Wu Xiaohui sentenced to 18 years behind bars for US$12 billion fraud, embezzlement

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Prison term completes the downfall of one of China’s most famous tycoons and closes another chapter in Beijing’s crackdown on high-level fraud and corruption

Topic | Financial regulation

Maggie Zhang , Xie Yu , Jun Mai

Published: 10:48am, 10 May, 2018

Updated: 11:31pm, 10 May, 2018

Former chairman of Anbang Insurance Group, Wu Xiaohui, who is starting an 18-year prison sentence after being convicted of fraud and embezzlement. Photo: Reuters

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Xie Yu

Xie Yu joined the Post in 2015. She is the chief China finance reporter, covering the economy and development of financial markets.

Jun Mai

Jun Mai is an award-winning journalist covering China's political and social news. He writes about China's elite politics, general policies and social activism. He is currently based in Beijing.