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Politics

Anbang's former chairman Wu Xiaohui jailed for 18 years: Xinhua

Wu Xiaohui, then chairman of Anbang Insurance Group, attends the China Development Forum in Beijing on March 18, 2017.   © Reuters

A Chinese court has sentenced Wu Xiaohui, former chairman of Anbang Insurance Group Co Ltd, to 18 years in prison, China's state media Xinhua news agency said on Thursday.

Citing the decision of the Shanghai No.1 Intermediate People's Court, Xinhua said that 10.5 billion yuan ($1.65 billion) will also be confiscated from Wu Xiaohui.

(Reuters)

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