Retail Tycoon Exonerated a Decade After Bribery Conviction
A Chinese supermarket tycoon jailed for bribery and fraud was exonerated Thursday when the Supreme People’s Court overturned his decade-old conviction.
Zhang Wenzhong, 55, a Stanford-educated computer scientist, founder and former chairman of one of China’s biggest retail chains, Wumart Stores Inc., listened calmly while the judge read the ruling for 45 minutes at the Supreme Court Thursday. Zhang was sentenced to 18 years in prison in 2008.
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