简体中文
One of the country's highest-profile fugitives - the former general manager of an insurance intermediary who was dubbed the "runaway beauty boss" - was given the death penalty with two years reprieve on Wednesday for illegally raising more than 1 billion yuan ($160 million).
Chen Yi, who controlled Shanghai Fanxin Insurance Agency, also had all of her personal wealth confiscated by the Shanghai No 1 Intermediate People's Court. Her death sentence will be commuted to life in prison if she is credited with good behavior.
Fanxin's former senior consultant Jiang Jie was given a life sentence and had all of his property confiscated.
The two were escorted back to China in August 2013 after fleeing to Fiji.
The Shanghai court said it would continue to track down their illegal gains of more than 800 million yuan from more than 4,000 investors and order them to pay compensation.
"The sentence is heavier than I expected," said Dang Jiangzhou, a shareholding partner of Shanghai's Ganus Law Firm, who represented more than 70 victims in the case.
In a related development, US and Chinese officials will meet in August with anti-corruption officials from the Asia Pacific Economic Cooperation to discuss the possibility of repatriating Chinese officials hiding in the US, according to the Chinese Foreign Ministry on Wednesday.
