Image source, CUHKA Chinese-Canadian billionaire has been sentenced to 13 years in prison and his company has been fined more than $8 billion.
Xiao Jianhua and his company were accused of taking money and giving it away.
Xiao was taken away from a luxury hotel in Hong Kong.
The Canadian embassy told him in July that he would be facing trial.
The trial was supposed to start on July 4.
Xiao and his firm were found guilty of taking public deposits, breaching trust in the use of property and using funds without permission. The company was found guilty of the crime of bribe taking.
The financial management order was violated by Xiao and his firm.
Xiao and his company had pleaded guilty and cooperated with authorities, so their punishment was mitigated.
The Canadian embassy said in July that its diplomats had not been allowed to see the trial.
Xiao wasn't entitled to access Canadian consular services because China didn't recognize dual citizenship, the Chinese foreign ministry said on Friday.
According to reports, Xiao had close ties to the family of the president.
According to the Hurun Report, his net worth had grown to an estimated $6 billion.
Xiao was taken away from the Four Seasons Hotel in Hong Kong.
After he went missing, his family filed a missing person's report with Hong Kong authorities, but withdrew it a day later, saying they had regained contact with Xiao.
Hong Kong police refused to release the footage because it showed Xiao leaving the hotel without being coerced.
The front page of a popular newspaper ran a statement from Xiao that said he was receiving medical treatment abroad. He said that he had not been kidnapped and taken to the Chinese mainland.
The statements on his behalf were later removed.
There are huge marches in protest.
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