Higher Court Upholds Ruling against Chinese-Dutch Business Tycoon Yang Bin

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Last updated at: (Beijing Time) Monday, September 08, 2003

Higher Court Upholds Ruling against Chinese-Dutch Business Tycoon Yang Bin

Liaoning Provincial Higher People's Court Sunday made a final judgment by rejecting an appeal made by Chinese-Dutch business tycoon Yang Bin and upholding a ruling given by a lower court.

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Liaoning Provincial Higher People's Court Sunday made a final judgment by rejecting an appeal made by Chinese-Dutch business tycoon Yang Bin and upholding a ruling given by a lower court.

Yang was sentenced to 18 years of imprisonment, plus a fine of 2.3 million yuan (about 277,100 US dollars) for being convicted of fraud by the Intermediate People's Court of Shenyang City, capital of northeast China's Liaoning Province, in a first-instant trial held on July 14.

The charges listed in the court verdict relating to his property and horticulture business include the forging of documents, fraudulent contracts, bribery and the illegal use of land.

For involvement in the case, Shenyang Eurasia Industrial Co., Ltd. was fined 5.6 million yuan (674,700 US dollars ) for the illegal use of arable land, contract fraud and bribery. Shenyang Eurasia Agricultural Development Co., Ltd. was also fined 400,000 yuan (48,200 US dollars ) for forging financial documents.

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