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Living Too Large?
Shanghai real estate developer Zhou Zhengyi last week became the latest
casualty in what appears to be an ongoing government crackdown on the
dubious business practices of China's richest and flashiest. Here's the
body count so far:
2002's 11th richest mainlander, according to Forbes magazine, Zhou was the first in Shanghai to own a Ferrari. He and wife Mao Yuping stand accused of loan and stock fraud and tax evasion
Yang Rong
The auto exec allegedly put $60.4 million of the state's money into his
family's offshore accounts
Wu Zhijian
Shenzhen entrepreneur nailed by authorities for running illegal taxi
operations and forging official documents. Given a 17-year jail sentence
in April, Wu is $24.1 million in debt
Mou Qizhong
Will spend life in prison for forging a letter of credit to get a $75
million loan from a state bank
Yang Bin
Flower-seed king, reportedly worth $900 million, was set to head a North
Korean free-trade zone until Beijing accused him of invest-ment scams,
fraud and bribery. Shares of his company have since fallen by 80%
Liu Xiaoqing
Detained for tax fraud, the former movie star is now doing time in a
detention center
Shi Zhenghui
The former president of a Hong Kong-listed mobile-phone distributor was
accused of falsifying tax receipts. Arrested in January for failing to
pay almost $25 million in taxes
Wang Xuebing
Embezzled and took bribes while Bank of China's chief; kicked out of the
Communist Party last year
Zhang Baoxiang
Serving a life sentence for fabricating $23.3 million in tax rebates as
general manager at a state-owned cashmere import-export company. The
government fined the firm $58 million
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