Anbang chairman fights fraud conviction

Wu Xiaohui is not going down without a fight. The former chairman of insurance giant Anbang Group, which had a spectacular rise and equally dramatic fall as New York real estate’s flashiest buyer, is reportedly appealing his conviction on charges that he was behind a $12 billion fraud and embezzlement scheme. Earlier this month, Wu was sentenced to 18 years in prison after a one-day trial. He was found guilty of embezzling about $1.6 billion […]

Source: Real Estate

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