How an Airline Buyer's Buddies Crashed, Burned

Eight years after Li Zeyuan bought an entire airline, earning the wings he still wears today as a legendary investor, the 60-year-old was breathing with an oxygen mask and fighting tears while pleading innocent in a Beijing courtroom.

Li no longer controls Shenzhen Airlines, although he remains on staff as a generously paid senior consultant. He's also a well-connected financier and ex-con who was in and out of prison before raising via questionable -- officials say illegal -- means  2.72 billion yuan to buy Shenzhen Airlines.