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Posted on: May 10, 2018, 2:06 p.m.
Wu Xiaohui, the former chairman of Anbang Insurance Group, has been sentenced to 18 years in prison after being convicted by a Chinese court of orchestrating a $12 billion fraud. Wu had become the poster boy for Chinese debt-fueled U.S. real estate purchases, acquiring some of New York’s most notable assets between 2014 and 2016. In addition to his prison term, Wu will also have $1.65 billion worth of assets seized by Chinese authorities, the […] Full investment news articleRelevent to this post: Blackstone Group,