Lyu Tao, a senior executive who worked with outspoken exiled businessman Guo Wengui, has been sentenced to two years in prison for obtaining loans and foreign exchange by fraud, according to state media.
The former senior executive of Beijing Pangu Investment, one of Guo’s companies, was handed the sentence by a court in the northern Chinese city of Dalian, according to Xinhua. Two employees with the company, Xie Honglin and Yang Ying, were sentenced to two years in prison with a three-year reprieve.
The company was also fined Rmb245m ($35.9m) for obtaining loans by fraud, Xinhua reported.
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