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
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