日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

   

Nation's youngest tycoon behind bars

By Huang Zhiling (China Daily)
Updated: 2006-12-02 06:29

CHENGDU: Zhou Yiming, the youngest tycoon on Forbes magazine's list of China's 400 richest people last year, was sentenced to life imprisonment on Friday in Suining in Southwest China's Sichuan Province.

"The Suining Intermediate People's Court announced the verdict this (Friday) morning on the charge of contractual fraud," said Tan Shengbin, director of the court's general office.

Zhou had accepted the charges against him and did not say whether he would appeal to a higher court, Tan told China Daily.

Zhou, a 32-year-old businessman, had been arrested after he acquired nearly US$69 million through his stake in Sichuan Mingxing Electric, a major supplier of water, electricity and gas to 3.8 million residents in Suining.

The case began in August 2002, when Sichuan Mingxing Electric, a listed company, decided to sell shares worth 380 million yuan (US$48 million) a 28 per cent stake in the firm on the stock market.

At that time Mingxing Electric had 100 million yuan (US$13 million) in capital and no debt, making it an attractive target for investors, including Zhou, chairman of the Shenzhen Minglun Group Ltd, an electronics and food processing company.

In 2003, Zhou paid 110,000 yuan (US$13,900) to Shenzhen Zhongxi Accounting Company to help him forge an audit of his personal finances. The fake reports inflated Shenzhen Minglun Group's net assets in 2002 to 1.2 billion yuan (US$152 million), although the company had actually been in debt to the tune of 280 million yuan (US$35 million) at the time.

Zhou used the fake reports to borrow 380 million yuan (US$48 million) from three banks, which he then used to acquire the 28 per cent stake in Sichuan Mingxing Electricity.

The court held that Zhou began to siphon capital from the Sichuan company after he gained control, acquiring nearly US$69 million with the help of several accomplices and causing the company to suffer huge financial losses.

Forbes last year ranked Zhou as 207th among China's 400 richest people, with a personal fortune estimated at US$121 million. According to the Guangzhou-based Nanfang Daily, despite their growing wealth, the richest people on the Chinese mainland paid less tax in 2006 than the year before.

A report on the newspaper's annual list of the mainland's wealthiest people revealed that the personal assets of the 120 entrepreneurs were worth on average 2.062 billion yuan (US$2.6 million), an increase of 202 million yuan (US$26 million), or 10 per cent, compared to last year.

However, they only paid average taxes of 270 million yuan (US$35 million), compared with 283 million yuan (US$36 million) in 2005, the newspaper said.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 成人免费区一区二区三区 | 中文字幕永久在线视频 | 国产www网站 | 少妇一级淫片免费放中国 | 人人超碰97 | av中文在线资源 | 国产成人免费视频 | 最近日韩中文字幕中文 | 日本免费网站视频 | 日本成人社区 | 亚洲欧美日韩国产 | 在线观看一区视频 | 国产精品久久久久久久久久 | 国产福利第一页 | 蜜臀av性久久久久蜜臀av麻豆 | 欧美ⅹxxxxxx | 欧美三级视频网站 | 日韩一区二区在线播放 | 97午夜视频| 国产精品一区二区三区免费 | 亚洲色图25p | 国产免费一区二区三区四在线播放 | 欧美三级视频在线播放 | 少妇按摩一区二区三区 | 天天干天天操天天射 | 中文字幕在线观看视频网站 | 久久av一区 | 国产亚洲欧美一区二区 | 欧美色图亚洲天堂 | 青青草色视频 | 亚洲免费观看av | 污污的视频在线免费观看 | 亚洲免费视频网 | 四虎影视在线播放 | 日韩美女中文字幕 | 日本黄色短片 | 偷拍亚洲精品 | 国产性猛交xxxx免费看久久 | 99精品久久久 | 亚洲在线日韩 | 欧美日韩亚洲在线观看 |