GOME's Huang goes directly to jail
Huang Guangyu, founder of Bain Capital investee GOME Electrical Appliances Holdings, has finally been convicted in Beijing on bribery and insider trading charges, after a protracted detention, and sentenced to 14 years in prison.
Beijing's No. 2 Intermediate People's Court also ordered Huang, at one time China's richest man, to pay an RMB600 million ($88 million) fine. However, Huang's conviction apparently does not remove the...
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