Shanghai tycoon freed from jail - China Daily
From China Daily (link)
China has released Shanghai property tycoon Zhou Zhengyi on Friday after he completed a three-year sentence for stock market fraud and falsifying documents, Xinhua news agency said.
Zhou, once named China’s 11th richest man with an estimated personal fortune of 320 million U.S. dollars, was detained in May 2003 after an investigation into 2 billion yuan ($250 million) in loans obtained from Bank of China, the nation’s premier foreign exchange lender.
Also known as Chau Ching-ngai, he was convicted and sentenced at the Shanghai No. One Intermediate People’s Court in June 2004.
