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Hong Kong Billionaire Lau Guilty Found Guilty in Graft Case

Hong Kong billionaire Joseph Lau, the head of Chinese Estates Holdings, was found guilty of corruption in a land deal in Asia's gambling capital of Macau on Friday and sentenced to five years in jail, a court official in Macau said. A second high-profile tycoon, Steven Lo, chairman of the South China Football Club and movie-and-music entertainment group BMA Investment, was found guilty of the same bribery and money laundering charges, and handed the same sentence. Lau, chairman and...

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