A Chinese property tycoon has been arrested on charges of bribery and forging tax receipts in a new corruption crackdown.
Zhou Zhengyi was once named China’s 11th richest man with an estimated fortune of more than $300m. Zhou was released from prison in May last year after serving a three-year sentence for manipulating the stock market and fraud.
China’s anti-corruption drive has led to thousands of arrests since 2003.[Full Text]