. and turned into the most serious political turmoil after illustrator artwork the handover of Hong Kong's autonomy. After Xiao Jianhua was taken away, there was no official news of his whereabouts for several years. In 2020, "Tomorrow Department" confirmed that Xiao Jianhua assisted the government in restructuring the group in mainland China. All parties speculate Although Chinese courts have officially started hearing the Xiao Jianhua case, little is known about the case. The Wall Street Journal reported last month,.
citing people familiar with the matter, that Xiao Jianhua could be charged with "illegal solicitation of public deposits" and could be sentenced to five years or more in prison. In 2018, Wu the former chairman of who was Deng Xiaoping's grandson-in-law, was sentenced to 18 years in prison by the Shanghai No. 1 Intermediate People's Court for fund-raising fraud and occupational embezzlement, and 10.5 billion yuan of property was confiscated.
The Xiao Jianhua case is as secret as many billionaire cases involving China's capital markets, for reasons that are closely related to the sensitive information he may have. A widely shared view is that he has knowledge of the secret wealth of the families of top Chinese officials. The British "Financial Times" once reported that Xiao Jianhua continued to build relationships with government officials and moved the company to places where it could make more money.