Shanghai sentences property tycoon 16 years in jail
Updated: 2008-01-21 13:10
SHANGHAI - Former Shanghai property tycoon Zhou Zhengyi was sentenced to 16 years in jail Monday in a final ruling of the Shanghai Municipal Higher People's Court.
Zhou was found guilty on five charges that included misappropriation of funds, bribery and forging value-added tax (VAT) receipts in the first trial by a lower local court.
He appealed against the verdict to the Higher People's Court in December.