Ren Zhiqiang, a Chinese billionaire with a real estate business, was sentenced to 18 years in prison for embezzlement (over $ 16 million), bribery, abuse of office to the detriment of more than $ 17 million the state he led, according to CNN, quoted by Digi 24.

The sentence was handed down by a Beijing court. At the same time, the judges fined him 620,000 dollars.

The court said the defendant “voluntarily acknowledged the charges” and “accepted the court’s verdict after recovering the full damage.”

“Chinese courts have a conviction rate of about 99%, according to independent observers. Accusations of corruption are the most common in the case of former relatives of the communist regime, who fall into disfavor “, say the American journalists.

Ren Zhiqiang, a 69-year-old billionaire retired from business, earned the nickname “Cannon” for his incisive and critical attitude towards Chinese authorities. In March, he wrote an essay in which, without naming him directly, he played President Xi Jinping.

“I did not see an emperor showing off his new clothes, but a clown who took off his clothes and continued to insist that he was emperor,” Ren wrote.

Shortly after the essay was published, the billionaire disappeared.

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