Chinese Property Tycoon Zhou Zhengyi Faces New Charges – People’s Daily Online

From People’s Daily Online:

The Municipal People’s Procuratorate has charged property tycoon Zhou Zhengyi with misappropriation of funds, bribery and forging VAT receipts, a procuratorate source said on Friday.

Zhou, former president of Shanghai-based property firm Nongkai Development Group, was released from prison in May 2006 after completing a three-year sentence for fraud and manipulating the stock market. But five months later, in October, Zhou was detained as prosecutors investigated the Shanghai social security fund scandal . [Full Text]

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