Former executives jailed for fraud

Three sentenced in first trial related to tycoon who fled overseas 3 years ago

Three ex-executives of fugitive Chinese billionaire Guo Wengui have been given prison terms for fraudulently obtaining loans and foreign currency, a court said on Friday.

Lyu Tao, former deputy general manager of Beijing Pangu Investment Inc, controlled by Guo, was sentenced to two years and three months in prison, while Xie Honglin and Yang Ying, who both worked for the company's financial department, were sentenced to two years with a three-year reprieve.