Billionaire Seazen Founder Convicted of Child Molestation
- Controller of China developer Wang sentenced to five years
- Company sold projects, pushed sales to overcome crisis in 2019
This article is for subscribers only.
Wang Zhenhua, the billionaire founder of Chinese developer Seazen Group Ltd., was found guilty of child molestation and sentenced to five years in prison.
A Shanghai court issued the verdict against Wang, 58, following two days of closed-door hearings, according to a statement Wednesday. Five years is the maximum prison term for child molestation under Chinese law. Wang couldn’t be reached for comment through his company or the law firms representing him.