#China sentences tycoon Xiao Jianhua to 13 years, fines Tomorrow Holdings $8.1 billion
“China sentences tycoon Xiao Jianhua to 13 years, fines Tomorrow Holdings $8.1 billion” A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China. Xiao and Tomorrow Holdings were charged with illegally siphoning away public deposits, betraying the use of entrusted property, and…