Chinese tribunal decides to sentence Canadian billionaire to 13 years in prison and penalties

Beijing 19th August : Chinese-born Canadian billionaire Xiao Jianhua was sentenced to 13 years in prison by the Shanghai court on Friday over embezzlement, corruption, bribery as well as other financial crimes.

Xiao, an Canadian passport holder, was detained for five years in the Four Seasons Hotel in Hong Kong and then transferred to China according to the the news agency dpa.He has not been seen since then.The judge also handed down a personal penalty of 6.5 million dollars, a sign of leniency after he agreed to cooperate and admitted guilt to the charges.Xiao and Tomorrow Holding bribed officials from the state with apartments, shares and cash as well as other property that was worth 680 million yuan between 2001 until 2021 in the hope of avoiding oversight and get "improper benefits" as per the court.

Public servants who accepted the bribes are currently facing separate legal actions.The Canadian Embassy tried to get access to Xiao in July but without success.

China does not recognize the dual nationality of Xiao, Foreign Ministry spokesperson Wang Wenbin told reporters in Beijing.