Chinese Tycoon Gets Life Sentence for Smuggling | CHINA US Focus

CHINA US Focus - Exclusive Analysis of the Politics, Economics, Military and Culture of China-US Relations.


Chinese Tycoon Gets Life Sentence for Smuggling

Andrew Jacobs, New York Times
May 18, 2012
Share on FacebookFACEBOOK
Share on TwitterTWITTER
Lai Changxing, an illiterate peasant-turned-billionaire whose legacy of bribery, smuggling and monumental profligacy came to personify the excesses of the economic reform era, was given a life sentence on Friday for his role in what the government has described as modern China’s biggest corruption scandal, according to the state news media.
At his peak, Mr. Lai drove a bulletproof Mercedes, distributed wads of cash to the poor and had in his thrall hundreds of officials in Xiamen, the special economic zone in Fujian, the coastal province where he made his fortune. The scandal brought down scores of those officials, led to the unexplained prison deaths of his brother and his accountant and provoked hand-wringing among top Communist Party officials who feared they might be next.
Read Full Article HERE

Related Articles

Major changes underway for China’s workers

04/18/2014 Bruce Kennedy, CBS News

China Details Vast Extent of Soil Pollution

04/18/2014 Josh Chin and Brian Spegele, Wall Street Journal

Shares of Twitter-Like Weibo Surge on Opening Day, as China I.P.O.s Mount

04/18/2014 Michael J. De La Merced, New York Times

Strike at Nike, Adidas China Supplier Halts Output

04/18/2014 Dave McCombs, Bloomberg News

For China and Japan, the Economic Challenges Ahead Are Similar

04/17/2014 Bettina Wassener, New York Times

News by Date

April 2014
« Mar   May »

Special Coverage

Sponsored Reports

This week in China-US Focus

Sign-up for e-mail newsletters and alerts and get the news you need delivered directly to your inbox.

Real Time Web Analytics