Tycoon’s Prison Term Reduced to 18 Years
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From Times Wire Reports
A tycoon once hailed as China’s richest man but later imprisoned for bank fraud has been rewarded for good behavior by having his life sentence cut to 18 years. Mou Qizhong, imprisoned in 1999, impressed authorities by following a rigorous program of exercise and study.
Mou, 62, became famous in 1989 by swapping 500 freight cars of socks, shoes and other goods for four Soviet Tu-154 jetliners, netting $25 million. He later financed ventures ranging from soccer clubs to a scientific expedition to the North Pole.
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