Caixin
Jan 11, 2022 04:39 AM
BUSINESS

Kangmei’s Former Chief Gets 12 Years in Final Verdict

Ma Xingtian, the former chairman of Kangmei Pharmaceutical Co. Ltd.
Ma Xingtian, the former chairman of Kangmei Pharmaceutical Co. Ltd.

Ma Xingtian, the former chairman of Kangmei Pharmaceutical Co. Ltd., was sentenced to 12 years in prison and fined 1.2 million yuan ($188,300) for manipulating the securities market, failure to disclose important information and bribery.

The Guangdong Higher People’s Court rejected Ma’s appeal and issued a final ruling in his case. The court upheld the trial court’s November verdict, saying the evidence was sufficient, the conviction was accurate, and the sentence was appropriate.

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