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China's Kangmei former chief jailed for 12 years in final verdict

Court finds drugmaker and auditors responsible for $385m loss to investors

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.

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