Wang Zhenhua, the former chairman of Xincheng Holdings, was obscene. He was convicted in the first instance of the Putuo District Court in Shanghai. Wang Zhenhua and another defendant Zhou Yanfen were sentenced to five and four years in prison.
According to the official micro -news of the Shanghai Putuo District People's Court, the case was tried in the court yesterday and made the above verdict after the bench.
After the outbreak of this shocking case of Chinese society, the market value of the new city controlled by listed companies had evaporated sharply, and Wang Zhenhua himself was also eliminated by the Shanghai CPPCC members.
According to reports, Wang Zhenhua owns three listed companies, including the Shanghai Stock Exchange Listed Company Xincheng Holdings, the Hong Kong Stock Exchange listed company Xincheng Development Holdings and Xincheng Yue.Public data shows that there are as many as 194 companies related to Wang Zhenhua, and their total assets have been announced to the outside world may exceed 33.3 billion yuan (S $ 65.2 billion).
