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Chinese billionaire sentenced to life

Was convicted of smuggling, bribes

By Andrew Jacobs

 |  New York Times  

  May 19, 2012

Lai Changxing, an illiterate peasant-turned-billionaire whose legacy of bribery, smuggling, and monumental profligacy came to personify the excesses of the economic reform era, was given a life sentence on Friday for his role in what the government has described as modern China’s biggest corruption scandal, according to the state news media.

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