Ex-Zhongzhi Chairman Gao Sentenced in Beijing for Illegal Deposits

A Beijing court sentenced former Zhongzhi Enterprise Group Co chairman, Gao, and others to prison for illegally taking public deposits, as reported by CCTV.

A Beijing court has handed down prison sentences to several individuals, including the former chairman of Zhongzhi Enterprise Group Co, for their involvement in illegal financial activities. Chinese state media, CCTV, reported the sentencing on Tuesday.

The individuals, led by the former chairman identified only by his surname Gao, were found guilty of illegally taking public deposits. The ruling marks a significant crackdown on white-collar crime in China, reflecting increased efforts by authorities to regulate financial misconduct.

The case attracted significant attention as it underscores the importance of adherence to legal financial practices in China's rapidly evolving economic landscape.

(With inputs from agencies.)