Man gets 19 years for pension fraud
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From Times Wire Reports
A Shanghai tycoon has been sentenced to 19 years in prison in a pension funds scandal that toppled the city’s Communist Party chief, Chen Liangyu, the official New China News Agency said.
Zhang Rongkun was found guilty of bribery, share price manipulation, financial fraud and misuse of public funds, the news agency said.
The court also ordered the confiscation of $186 million of Zhang’s assets.
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