May 10, 2018 / 2:36 AM / 12 days ago

Anbang's former chairman Wu Xiaohui jailed for 18 years - Xinhua

May 10 (Reuters) - A Chinese court has sentenced Wu Xiaohui, former chairman of Anbang Insurance Group Co Ltd, to 18 years in prison, China’s state media Xinhua news agency said on Thursday.

Citing the decision of the Shanghai No.1 Intermediate People’s Court, Xinhua said that 10.5 billion yuan ($1.65 billion) will also be confiscated from Wu Xiaohui. ($1 = 6.3650 Chinese yuan renminbi) (Reporting by Hong Kong newsroom Editing by Shri Navaratnam)

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