China has sentenced a former flower barononce listed as the country's second-richest man to 18 years in prison for commercial crimes.
The guilty verdict brought to a close a dramatic reversalof fortune for Yang Bin, an orchid-growing Dutch nationaldetained last year just days after North Korea named him head of a free-trade enclave planned on the Chinese border.
Yang, chairman of Hong Kong-listed Euro-Asia Agricultural(Holdings) Co Ltd, was charged with attempted bribery,fraudulent schemes and contracts, and occupying farmlandillegally. His lawyer said an appeal was filed on Yang's behalf.
Yang (40) was ranked as China's second richest man by Forbesmagazine in 2001, with an estimated fortune of $900 million.
He became the first of several high-ranking tycoons torun afoul of the law since last year, when the Communist Party invited the new capitalist rich to join their ranks inNovember.
A string of scandals has broken involving high-profileentrepreneurs who rapidly amassed fortunes in the 1990s,working their political connections in the margins wherebusiness interests intertwine with those of governmentbureaucrats.