Li Huabo, a former local government official accused of a 94 million yuan ($15 million) fraud in China, was convicted of receiving stolen money in his Singapore bank accounts.
For each charge, Li could be jailed for as long as five years and be fined an unspecified amount. Li claimed his personal wealth including S$1.5 million used to obtain his Singapore permanent residency in 2011 and a S$1.3 million three- bedroom apartment in the city-state was built through businesses on the sidelines and not by siphoning public funds. Full story
