China jails Canadian tycoon for 13 years for finance crimes; company fined $8.1 billion
Beijing, Aug 19: A Chinese-born Canadian tycoon who disappeared from Hong Kong in 2017 was sentenced Friday to 13 years in prison for a multibillion-dollar string of financial offences and his company was fined 8.1 billion, a court announced.
Xiao Jianhua was convicted of misusing billions of dollars of deposits from banks and insurers controlled by his Tomorrow Group and offering bribes to officials, the Shanghai No. 1 Intermediate People's Court said on its social media account.
Xiao was fined 6.5 million yuan ( 950,000) and his company was fined 55 billion yuan ( 8.1 billion), the court said.
Xiao was last seen at a Hong Kong hotel in January 2017 and was believed to have been taken to the mainland by Chinese authorities. News reports later said he was under investigation by anti-graft authorities, but no details were released.
The Canadian government said diplomats were blocked from attending his July 5 trial.
Xiao was deemed to be a Chinese citizen, which meant he wasn't entitled to see Canadian diplomats under a consular treaty between the two governments, Foreign Ministry spokesperson Wang Wenbin said.
That suggested Xiao might have entered the mainland using a Chinese travel document instead of his Canadian passport. Beijing has in other cases refused diplomats access to citizens of their countries who entered using Chinese identity documents.
China does not recognise Chinese citizens with dual nationality. Xiao Jianhua has Chinese nationality, Wang said. He does not enjoy the right to consular protection of other countries.
The Canadian Embassy in Beijing referred a request for comment to the Canadian government in Ottawa.
Tomorrow Group has been linked to a series of anti-corruption prosecutions and seizures of financial companies by regulators.
Friday's announcement said Xiao and Tomorrow Group were convicted of improperly taking more than 311.6 billion yuan ( 46 billion) from the public and misused entrusted property and money totaling 148.6 billion yuan ( 21.8 billion).
Xiao vanished amid a flurry of prosecutions of Chinese businesspeople accused of misconduct.
That fuelled speculation the ruling Communist Party might be abducting people outside the mainland. Hong Kong at that time prohibited Chinese police from operating in the former British colony, which has a separate legal system.
Since then, Beijing has tightened control over Hong Kong, prompting complaints it is violating the autonomy promised when the territory returned to China in 1997. The Communist Party imposed a national security law in Hong Kong in 2020 and has imprisoned pro-democracy activists.
Hong Kong police investigated Xiao's disappearance and said he crossed the border into the mainland. An advertisement in the Ming Pao newspaper in Xiao's name the same week denied he was taken against his will.
At the time of his disappearance, Xiao was worth nearly 6 billion, making him China's 32nd wealthiest person, according to the Hurun Report, which follows the country's wealthy.
In 2020, regulators seized nine companies controlled by Xiao.
That included four insurers, two securities firms, two trust firms and a company involved in financial futures. The business magazine Caixin reported at the time that the seized assets totaled almost 1 billion yuan ( 150 million).
A retired bank regulator, Xue Jining, admitted taking 400 million yuan ( 62 million) in bribes in a corruption case linked to Baoshang Bank Ltd. in the northern region of Inner Mongolia, which regulators seized from Tomorrow in 2019.
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Increase in number of dengue cases reported in Karnataka, govt takes preventive measures
Bengaluru: With Karnataka reporting an increasing number of confirmed cases of dengue, the State Health Department on Wednesday said preventive measures have been taken to control the disease from spreading further.
As of May 13, the state has reported 2,877 confirmed cases of dengue since January 1 this year, a notable increase compared to last year's figure of 1,725 during the same period. This rise is attributed to heightened screening, reporting, and testing efforts, they said.
According to officials, the mosquito-borne disease is transmitted to people through the bite of infected Aedes mosquitoes that are predominantly day biters. Given the impending monsoon season and prevalent rainfall across districts, intensified dengue control measures are imperative, they noted.
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''Symptoms typically manifest in four to ten days after a mosquito bite, presenting as high grade fever, headache, body aches and pain behind the eyeballs. In view of absence of specific treatment or vaccine, prompt symptomatic management is crucial,'' an official said.
Elaborating on the measures taken, the Health Department said a meeting under the Chairmanship of Mission Director – National Health Mission, with District Health Officers and District Vector Borne Disease Control Officers was convened to review preparedness for dengue control. Weekly meetings from the State Programme Division with District Programme Officers are also being done to oversee implementation of control measures, it was stated.
Rigorous efforts are being taken to eliminate Aedes mosquito breeding sites.
Daily house-to-house visits by health staff and ASHA (Accredited Social Health Activist) workers are also being carried out to promote ''Health Education and Behaviour Change Communication.'' Monitoring the confirmed dengue cases admitted to district hospitals and follow-up visits are also being conducted.
In water-scarce areas, awareness is created to ensure that the water collection containers are properly covered. Necessary drugs for the treatment and management of dengue cases, larvicide, and fogging chemicals for vector control are available at all levels and disseminating information on dengue control measures through various media channels are among other measures taken to combat the disease.
Observance of National Dengue Day is scheduled on May 16 with the theme ''Connect with the Community, Control Dengue,'' and accordingly, a guideline circular has been issued to conduct activities in collaboration with the community and government departments.
A meeting will be held with the heads of Resident Welfare Associations (RWAs), owners of construction areas, and owners of commercial complexes to raise awareness and persuade them about their role in dengue control, the officials said.
Advocacy workshops for Panchayat Development Officers and High School Science Teachers will also be organised to enhance cooperation in dengue control efforts, they said.
