CHINA: TYCOON JAILED AFTER DEATH SENTENCE REVOKED
May 21, 2012: A former Chinese tycoon who was convicted of illegally raising money for her business has been sentenced to prison after China's supreme court overturned a death sentence following a public outrcy.
The Zhejiang Province High People's court said Wu Ying was sentenced to death with a two-year reprieve. Such penalties usually are commuted to long prison terms if the convict is deemed to have reformed.
Wu became famous for rising from poverty to build a multimillion-dollar business. She was later convicted of illegally raising 770 million yuan ($120 million) from investors in 2005-07 and sentenced to death.
That penalty prompted an outcry on Internet bulletin boards by supporters who said it was too severe. (Sources: Associated Press, 21/05/2012)