A Chinese court sentenced GOME founder Huang Guangyu to 14 years in prison Tuesday. Huang, who at one time was China’s wealthiest man, was convicted by a Beijing court of “illegal business dealings” including insider trading and bribery, the WSJ reports, citing the state-run Xinhua news agency.
GOME said Tuesday that it, too, has been found guilty of bribery in connection with the alleged offenses involving the Huang. The company has been ordered to pay a fine of 5 million yuan ($730,000), the WSJ reports.
