Beijing (CNN Business) A Chinese billionaire who criticized President Xi Jinping's handling of the coronavirus pandemic has been jailed for 18 years on corruption charges, a court said Tuesday. Ren Zhiqiang, a retired real-estate tycoon with close ties to senior Chinese officials, disappeared in March after he allegedly penned a scathing essay that month criticizing Xi's response to the coronavirus epidemic. Ren Zhiqiang, a former real estate tycoon and outspoken government critic. Judges sentenced him to 18 years in prison and imposed a fine of $620,000 (4.2 million yuan). China's court system has a conviction rate of around 99%, according to legal observers , and corruption charges are often used to go after Communist Party insiders who fall afoul of the leadership.

Source: CNN September 22, 2020 04:30 UTC