Xiao Jianhua was convicted of embezzling billions of dollars in deposits from banks and insurers controlled by his Tomorrow Group and offering bribes to officials, the Shanghai No. 1 Intermediate People’s Court said on his social media account. Xiao was fined 6.5 million yuan (Cdn$1.24 million) and his company was fined 55 billion yuan (Cdn$10.5 billion), the court said. Xiao was last seen in a Hong Kong hotel in January 2017 and is believed to have been taken to the mainland by Chinese authorities. Reports later said he was under investigation by anti-graft authorities, but no details were given.
Beijing denies consular access
The Canadian government said diplomats were prevented from attending his July 5 trial. Xiao was considered to be a Chinese citizen, which meant he was not allowed to see Canadian diplomats under a consular treaty between the two governments, Chinese Foreign Ministry spokesman Wang Wenbin said. This suggests Xiao may have entered the mainland using a Chinese travel document instead of his Canadian passport. Beijing has on other occasions denied diplomats access to citizens of their countries who entered using Chinese identity documents. “China does not recognize Chinese citizens with dual citizenship. Xiao Jianhua has Chinese citizenship,” Wang said. “He does not enjoy the right of consular protection of other countries.” The Canadian embassy in Beijing referred a request for comment to the Canadian government in Ottawa. The Tomorrow Group has been linked to a number of anti-corruption prosecutions and financial company seizures by regulators. Friday’s announcement said Xiao and Tomorrow Group were convicted of improperly receiving more than 311.6 billion yuan ($59 billion) from the public and misappropriating entrusted property and money totaling 148.6 billion yuan ($28.3 billion ). Xiao disappeared amid a storm of prosecutions of Chinese businessmen accused of misconduct. This has sparked speculation that the ruling Communist Party may kidnap people from outside the mainland. Hong Kong at the time banned Chinese police from operating in the former British colony, which has a separate legal system. Since then, Beijing has tightened control over Hong Kong, prompting accusations that it is violating the autonomy promised when the territory returned to China in 1997. The Communist Party imposed a national security law on Hong Kong in 2020 and has jailed pro-democracy activists. Hong Kong police investigated Xiao’s disappearance and said he crossed the border into the mainland. An advertisement in the Ming Pao newspaper in Xiao’s name the same week denied that he was being held against his will. At the time of his disappearance, Xiao was worth nearly $7 billion, making him China’s 32nd richest man, according to the Hurun Report, which tracks the country’s wealthy. In 2020, regulators seized nine companies controlled by Xiao. This included four insurers, two securities companies, two trust companies and one company involved in financial futures contracts. Business magazine Caixin reported at the time that the seized assets totaled nearly one billion yuan ($191 million). A retired bank regulator, Xue Jining, has admitted to taking a 400 million yuan ($76 million) bribe in a corruption case linked to Baoshang Bank Ltd. in the northern region of Inner Mongolia, which regulators seized from Tomorrow in 2019.
title: “Xiao Jianhua Chinese Canadian Billionaire Sentenced To 13 Years In Prison In Shanghai Klmat” ShowToc: true date: “2022-12-08” author: “Alice Black”
Xiao Jianhua was convicted of embezzling billions of dollars in deposits from banks and insurers controlled by his Tomorrow Group and offering bribes to officials, the Shanghai No. 1 Intermediate People’s Court said on his social media account. Xiao was fined 6.5 million yuan (Cdn$1.24 million) and his company was fined 55 billion yuan (Cdn$10.5 billion), the court said. Xiao was last seen in a Hong Kong hotel in January 2017 and is believed to have been taken to the mainland by Chinese authorities. Reports later said he was under investigation by anti-graft authorities, but no details were given.
Beijing denies consular access
The Canadian government said diplomats were prevented from attending his July 5 trial. Xiao was considered to be a Chinese citizen, which meant he was not allowed to see Canadian diplomats under a consular treaty between the two governments, Chinese Foreign Ministry spokesman Wang Wenbin said. This suggests Xiao may have entered the mainland using a Chinese travel document instead of his Canadian passport. Beijing has on other occasions denied diplomats access to citizens of their countries who entered using Chinese identity documents. “China does not recognize Chinese citizens with dual citizenship. Xiao Jianhua has Chinese citizenship,” Wang said. “He does not enjoy the right of consular protection of other countries.” The Canadian embassy in Beijing referred a request for comment to the Canadian government in Ottawa. The Tomorrow Group has been linked to a number of anti-corruption prosecutions and financial company seizures by regulators. Friday’s announcement said Xiao and Tomorrow Group were convicted of improperly receiving more than 311.6 billion yuan ($59 billion) from the public and misappropriating entrusted property and money totaling 148.6 billion yuan ($28.3 billion ). Xiao disappeared amid a storm of prosecutions of Chinese businessmen accused of misconduct. This has sparked speculation that the ruling Communist Party may kidnap people from outside the mainland. Hong Kong at the time banned Chinese police from operating in the former British colony, which has a separate legal system. Since then, Beijing has tightened control over Hong Kong, prompting accusations that it is violating the autonomy promised when the territory returned to China in 1997. The Communist Party imposed a national security law on Hong Kong in 2020 and has jailed pro-democracy activists. Hong Kong police investigated Xiao’s disappearance and said he crossed the border into the mainland. An advertisement in the Ming Pao newspaper in Xiao’s name the same week denied that he was being held against his will. At the time of his disappearance, Xiao was worth nearly $7 billion, making him China’s 32nd richest man, according to the Hurun Report, which tracks the country’s wealthy. In 2020, regulators seized nine companies controlled by Xiao. This included four insurers, two securities companies, two trust companies and one company involved in financial futures contracts. Business magazine Caixin reported at the time that the seized assets totaled nearly one billion yuan ($191 million). A retired bank regulator, Xue Jining, has admitted to taking a 400 million yuan ($76 million) bribe in a corruption case linked to Baoshang Bank Ltd. in the northern region of Inner Mongolia, which regulators seized from Tomorrow in 2019.
title: “Xiao Jianhua Chinese Canadian Billionaire Sentenced To 13 Years In Prison In Shanghai Klmat” ShowToc: true date: “2022-12-10” author: “John Cadena”
Xiao Jianhua was convicted of embezzling billions of dollars in deposits from banks and insurers controlled by his Tomorrow Group and offering bribes to officials, the Shanghai No. 1 Intermediate People’s Court said on his social media account. Xiao was fined 6.5 million yuan (Cdn$1.24 million) and his company was fined 55 billion yuan (Cdn$10.5 billion), the court said. Xiao was last seen in a Hong Kong hotel in January 2017 and is believed to have been taken to the mainland by Chinese authorities. Reports later said he was under investigation by anti-graft authorities, but no details were given.
Beijing denies consular access
The Canadian government said diplomats were prevented from attending his July 5 trial. Xiao was considered to be a Chinese citizen, which meant he was not allowed to see Canadian diplomats under a consular treaty between the two governments, Chinese Foreign Ministry spokesman Wang Wenbin said. This suggests Xiao may have entered the mainland using a Chinese travel document instead of his Canadian passport. Beijing has on other occasions denied diplomats access to citizens of their countries who entered using Chinese identity documents. “China does not recognize Chinese citizens with dual citizenship. Xiao Jianhua has Chinese citizenship,” Wang said. “He does not enjoy the right of consular protection of other countries.” The Canadian embassy in Beijing referred a request for comment to the Canadian government in Ottawa. The Tomorrow Group has been linked to a number of anti-corruption prosecutions and financial company seizures by regulators. Friday’s announcement said Xiao and Tomorrow Group were convicted of improperly receiving more than 311.6 billion yuan ($59 billion) from the public and misappropriating entrusted property and money totaling 148.6 billion yuan ($28.3 billion ). Xiao disappeared amid a storm of prosecutions of Chinese businessmen accused of misconduct. This has sparked speculation that the ruling Communist Party may kidnap people from outside the mainland. Hong Kong at the time banned Chinese police from operating in the former British colony, which has a separate legal system. Since then, Beijing has tightened control over Hong Kong, prompting accusations that it is violating the autonomy promised when the territory returned to China in 1997. The Communist Party imposed a national security law on Hong Kong in 2020 and has jailed pro-democracy activists. Hong Kong police investigated Xiao’s disappearance and said he crossed the border into the mainland. An advertisement in the Ming Pao newspaper in Xiao’s name the same week denied that he was being held against his will. At the time of his disappearance, Xiao was worth nearly $7 billion, making him China’s 32nd richest man, according to the Hurun Report, which tracks the country’s wealthy. In 2020, regulators seized nine companies controlled by Xiao. This included four insurers, two securities companies, two trust companies and one company involved in financial futures contracts. Business magazine Caixin reported at the time that the seized assets totaled nearly one billion yuan ($191 million). A retired bank regulator, Xue Jining, has admitted to taking a 400 million yuan ($76 million) bribe in a corruption case linked to Baoshang Bank Ltd. in the northern region of Inner Mongolia, which regulators seized from Tomorrow in 2019.
title: “Xiao Jianhua Chinese Canadian Billionaire Sentenced To 13 Years In Prison In Shanghai Klmat” ShowToc: true date: “2022-10-23” author: “Bobby Rezak”
Xiao Jianhua was convicted of embezzling billions of dollars in deposits from banks and insurers controlled by his Tomorrow Group and offering bribes to officials, the Shanghai No. 1 Intermediate People’s Court said on his social media account. Xiao was fined 6.5 million yuan (Cdn$1.24 million) and his company was fined 55 billion yuan (Cdn$10.5 billion), the court said. Xiao was last seen in a Hong Kong hotel in January 2017 and is believed to have been taken to the mainland by Chinese authorities. Reports later said he was under investigation by anti-graft authorities, but no details were given.
Beijing denies consular access
The Canadian government said diplomats were prevented from attending his July 5 trial. Xiao was considered to be a Chinese citizen, which meant he was not allowed to see Canadian diplomats under a consular treaty between the two governments, Chinese Foreign Ministry spokesman Wang Wenbin said. This suggests Xiao may have entered the mainland using a Chinese travel document instead of his Canadian passport. Beijing has on other occasions denied diplomats access to citizens of their countries who entered using Chinese identity documents. “China does not recognize Chinese citizens with dual citizenship. Xiao Jianhua has Chinese citizenship,” Wang said. “He does not enjoy the right of consular protection of other countries.” The Canadian embassy in Beijing referred a request for comment to the Canadian government in Ottawa. The Tomorrow Group has been linked to a number of anti-corruption prosecutions and financial company seizures by regulators. Friday’s announcement said Xiao and Tomorrow Group were convicted of improperly receiving more than 311.6 billion yuan ($59 billion) from the public and misappropriating entrusted property and money totaling 148.6 billion yuan ($28.3 billion ). Xiao disappeared amid a storm of prosecutions of Chinese businessmen accused of misconduct. This has sparked speculation that the ruling Communist Party may kidnap people from outside the mainland. Hong Kong at the time banned Chinese police from operating in the former British colony, which has a separate legal system. Since then, Beijing has tightened control over Hong Kong, prompting accusations that it is violating the autonomy promised when the territory returned to China in 1997. The Communist Party imposed a national security law on Hong Kong in 2020 and has jailed pro-democracy activists. Hong Kong police investigated Xiao’s disappearance and said he crossed the border into the mainland. An advertisement in the Ming Pao newspaper in Xiao’s name the same week denied that he was being held against his will. At the time of his disappearance, Xiao was worth nearly $7 billion, making him China’s 32nd richest man, according to the Hurun Report, which tracks the country’s wealthy. In 2020, regulators seized nine companies controlled by Xiao. This included four insurers, two securities companies, two trust companies and one company involved in financial futures contracts. Business magazine Caixin reported at the time that the seized assets totaled nearly one billion yuan ($191 million). A retired bank regulator, Xue Jining, has admitted to taking a 400 million yuan ($76 million) bribe in a corruption case linked to Baoshang Bank Ltd. in the northern region of Inner Mongolia, which regulators seized from Tomorrow in 2019.
