News Snapshot:
AP Beijing, August 20 A Chinese-born Canadian tycoon who disappeared from Hong Kong in 2017 was sentenced on Friday to 13 years in prison for a multibillion-dollar string of financial offences and his company was fined USD 8.1 billion, a court announced. Xiao Jianhua was convicted of misusing billions of dollars of 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 its social media account. Xiao was fined 6.5 million yuan (USD 950,000) and his company was fined 55 billion yuan (USD 8.1 billion), the...
