Chinese-Born Tycoon Charged of Bribery and Fraud

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Last updated at: (Beijing Time) Wednesday, June 11, 2003

Chinese-Born Tycoon Charged of Bribery and Fraud

The trial of Chinese-born tycoon, Yang Bin, has begun in Northeast Chinese city of Shengyang on charges of bribery and fraud. Yang was ranked No 2 on Forbes magazine's list of the Chinese mainland's richest business-people in 2001, with a fortune estimated at 900 million US dollars.

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The trial of Chinese-born tycoon, Yang Bin, has begun in Northeast Chinese city of Shengyang on charges of bribery and fraud.

The 40-year-old is a Dutch citizen and was ranked No 2 on Forbes magazine's list of the Chinese mainland's richest business-people in 2001, with a fortune estimated at 900 million US dollars.

Yang Bin made his fortune selling orchids. His company, Euro-Asia Agricultural Holdings Ltd, branched out into other businesses, including building a Dutch-themed real-estate development in Shenyang.

He moved to the Netherlands in 1987. Days after he was named by North Korea to head a special trade zone, Yang Bin was detained last October.

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