Ma Xingtian, former chairman of Kangmei Pharmaceutical, was sentenced to 12 years in prison and fined 1.2 million yuan ($188,300) for manipulating the securities market, failure to disclose important information and bribery.
The Guangdong Higher People's Court rejected Ma's appeal and issued a final ruling in his case. The court upheld the trial court's November verdict, saying the evidence was sufficient, the conviction accurate, and the sentence appropriate.
