Report in South China Morning Post, May 24, 2017
A California woman was arrested on Tuesday on federal charges of conspiring to procure and illegally export sensitive space communications technology to her native China, the US Justice Department said in a statement.
Si Chen, also known as Cathy Chen, 32, of Pomona, was expected to be arraigned later on Tuesday in US District Court on charges contained in an indictment returned by a federal grand jury on April 27, the department said.
Former IBM software engineer in China pleads guilty to stealing source code.Chen is also charged with conspiracy, money laundering, making false statements on an immigration application and using a forged passport, it said. http://www.scmp.com/news/china/article/2095442/chinese-arrested-plotting-buy-and-send-us-space-technology-china
Businessman sentenced to life for swindling 800-mln-yuan
Xinhua report in The Global Times, May 24, 2017
A prominent businessman in an east Chinese city was sentenced Tuesday to life in prison for stealing over 800 million yuan (116.79 million US dollars) from private investors.
Liu Kesheng, 48, was president of the Federation of Industry and Commerce in Tongcheng City, Anhui Province, before he was put under investigation for his shady practices.
The Intermediate People’s Court of Anqing City convicted Liu of illegal fund-raising, loan fraud, contract fraud, embezzlement and bribery. All his personal assets will be confiscated.
Liu built his business empire in Tongcheng from scratch. He started by repairing vehicles, then moved on to cigarette and alcohol wholesale, before investing two million yuan into establishing a computer firm in 2000. The same year, Liu and others set up a financing guarantee firm. His reputation as a successful entrepreneur grew with his businesses.
According to the court, Liu began his dishonest dealings in 2006, and began stealing money in 2013. Using his influence, Liu promised investors high-return investment opportunities. Instead, he used their money to repay his own debt and keep his failing businesses afloat.
Liu had illegally raised four billion yuan from private investors. He was unable to repay 800 million yuan, the court was told.
Liu fled in June 2014, without informing many of his creditors. He was arrested in the northwest province of Gansu a month later.
He was formally charged in 2016.Liu’s sister was convicted as an accomplice and sentenced to 11 years in prison.http://www.globaltimes.cn/content/1048381.shtml
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