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.

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