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

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

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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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