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Rise and Fall of a Tycoon - China Take - bonlive

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Home - China Take - Rise and Fall of a Tycoon

Rise and Fall of a Tycoon

May 24, 2010

In today's Net Check we get online reaction to the jailing of one of China's richest men. Huang Guangyu, a school dropout who built China's second biggest home appliance chain Gome into a multibillion-dollar empire was fined $88 million and sentenced to 14 years in prison last week after being convicted of insider trading, bribery and other crimes.

It's a spectacular rise and fall story of a man Chinese press crowned the nation's richest in 2008, with an estimated net worth of $6.3 billion. Later that year he was detained by investigators and accused of bribing five senior tax and police officials, illegally converting $117 million into foreign currency and insider trading that was said to have netted him about $45 million.

The case has of course been making the headlines here – and its being hotly debated on China's blogs and internet forums. Let's cross to the newsroom now where our researcher Emma Wang has been gauging opinion.

Tags: richest man,prison,crimes

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[2010/05/15] False Confessions
[2010/05/14] Rich Man Poor Man
[2010/05/14] Is It Ever Right to Hit Students?
[2010/05/14] E.U. Debt Crisis: Chinese Reaction
[2010/05/13] Changing Sexual Attitudes
[2010/05/11] Expo Cash Cow
[2010/05/11] Shanghai Expo: Worth the Cost?
[2010/05/10] Shoot to Kill
[2010/05/10] A Progressive Step?
[2010/05/08] Life's Little Luxuries
[2010/05/08] Human Rights Dialogue
[2010/02/23] Sick Baby Dilemma
[2010/02/23] Paying Extra For Organic
[2010/02/21] Dalai Lama Meeting: Chinese Reaction
[2010/02/20] Fighting Online Game Addiction
[2010/02/19] Japan's GDP Figures: Chinese Reaction
[2010/02/18] C-Section Trend
[2010/02/18] Hillary's Future
[2010/02/17] Can Soccer Boss Clean Up The Sport?
[2010/02/13] Divorce Rates Soar
[2010/02/12] Jackson's Doctor Arrest
[2010/02/11] Obama Talks Tough: Chinese Reaction
[2010/02/11] Festive Fun
[2010/02/10] Body Donation Doubts
[2010/02/09] More Tainted Milk Discovered
[2010/02/07] No Cell Phones For Kids?
[2010/02/07] Does School Make A Difference?
[2010/02/06] Dalai Lama Visit
[2010/02/05] Talking To The Taliban
[2010/02/05] China's Space Race
[2010/02/04] Online Reaction To Taiwan Arms Sales
[2010/02/04] Spending On Tibet
[2010/02/03] Vietnamese Wife
[2010/02/03] Chinese Luxury Goods
[2010/02/02] Should Dog And Cat Meat Be Banned?
[2010/02/02] Women In The Workplace
[2010/01/31] Corruption: What can be done?
[2010/01/30] Time To Tax Motorists?
[2010/01/30] Quake Donations "Misused"
[2010/01/29] Super Rich Eye Homes Abroad
[2010/01/29] Blood Transfusion Concerns
[2010/01/28] Be Positive…Or Else!
[2010/01/28] Do You Feel Richer?
[2010/01/27] Killer Hailed A Hero
[2010/01/27] China No.2 Economy
[2010/01/26] Avatar Pulled Or Pushed?
[2010/01/26] Dying With Dignity
[2010/01/24] U.S. Donations Cause Controversy
[2010/01/24] Worth The Sacrifice?
[2010/01/23] Elementary School Pressure
[2010/01/22] "Compassionate Invasion" Of Haiti
[2010/01/22] What Level Of Education Is Best?
[2010/01/21] Kidnapping Sparks Online Debate
[2010/01/21] Was It Right To Cancel Mr Gay?
[2010/01/20] Japan Vows Action On Gas Fields
[2010/01/20] Online Vs Real Life Opinion?
[2010/01/19] Rewards Given For Porn Reports
[2010/01/19] Anti-Missile System
[2010/01/17] 9.5% GDP Growth In 2010?
[2010/01/17] Kiss Causes Airport Chaos
[2010/01/16] Haiti Earthquake
[2010/01/15] Google Threat: Chinese Reaction
[2010/01/15] Battling Anti-Social Behavior
[2010/01/14] Super Tanker To Aircraft Carrier
[2010/01/14] Movies - Chinese Or Foreign?
[2010/01/13] Yale Given $8,888,888 Donation
[2010/01/13] What Is "Western Culture"?
[2010/01/12] An Academic Controversy
[2010/01/12] Corrupt Journalists
[2010/01/10] Views on Housing Prices
[2010/01/10] Yao Ming's Baby
[2010/01/09] Tying The Knot Too Tightly?
[2010/01/09] Industrial Scandal Sickens 51 kids
[2010/01/08] What Goes Up… Must Come Down?
[2010/01/08] Top News For 2009
[2010/01/07] China's "Online Mafia"
[2010/01/07] Chinese Moviegoing Habits
[2010/01/06] Too Much Luxury?
[2010/01/06] Corrupt Judge
[2010/01/05] Mental Health In China
[2010/01/05] New Year Hopes
[2009/12/31] Resident Permit Reform
[2009/12/31] Iran Protests:Chinese Reaction
[2009/12/30] Online Reaction To Execution
[2009/12/30] Disabled Driver Rules Eased
[2009/12/29] Karaoke Songs Censored
[2009/12/29] Who Benefits From Taiwan Deals?
[2009/12/27] Online Chat Ok At Work?
[2009/12/27] Cold Attitude To H1N1 Suspects
[2009/12/26] Knowledge Of Christmas Traditions
[2009/12/26] US Arms Sale To Taiwan
[2009/12/25] Copenhagen Controversy
[2009/12/25] Too Many Motors?
[2009/12/24] Helping Migrant Workers
[2009/12/24] Secondhand Or New?
[2009/12/23] Farmer Compensated For Jail Time
[2009/12/23] Online Vs. TV Ad Markets
[2009/12/22] Putting The Brakes On E-Bikes
[2009/12/22] Cheering China's Workers
[2009/12/20] Balance Between Economy And Climate
[2009/12/19] Chinese Troops In Afghanistan?
[2009/12/19] In The Dock
[2009/12/18] Dorm Suicide, Who's To Blame?
[2009/12/18] Dating Changes
[2009/12/17] Earthquake School Rebuilt
[2009/12/17] Kidnapping Fears In China
[2009/12/16] Migrant Worker Woes
[2009/12/16] Food Safety
[2009/12/15] Who Pays The Piper?
[2009/12/15] Individually Green
[2009/12/13] Is The Shanghai Expo Important?
[2009/12/12] Improving Life For The Blind
[2009/12/11] Woman Burns Herself As Protest
[2009/12/11] Job Worries For Students
[2009/12/10] One Child Policy: Time For A Change?
[2009/12/10] Housing Costs
[2009/12/09] Repatriation For Fugitive?
[2009/12/09] Only Skin Deep
[2009/12/08] Best,Worst Things About Life In Xinjiang
[2009/12/06] Whitehouse Dinner Gatecrashers
[2009/12/06] Buying Property Overseas
[2009/12/05] Does Taxi Increase Bother You?
[2009/12/05] Martial Arts Showdown
[2009/12/04] Milk Victims Cry Foul
[2009/12/04] Is Obama Right On Afghanistan?
[2009/12/03] Selling Made In China
[2009/12/03] The Ideal Job
[2009/12/02] Match-Fixing Scandal
[2009/12/02] Worried About HIV/AIDS?
[2009/12/01] Buildings Beyond Belief?
[2009/12/01] Second Wife Syndrome
[2009/11/30] Yunnan Media Monitors
[2009/11/30] Electricity Price Hike
[2009/11/28] Graduate Patrols
[2009/11/28] What Do You Know About Africa?
[2009/11/27] China Not Interested In Democracy
[2009/11/27] Job Prospects For Returnees
[2009/11/26] Flowers Fertilized With Blood
[2009/11/26] Feelings Towards Beggars?
[2009/11/25] Net Users To Fight Corruption
[2009/11/25] Men Or Women: Who's Best At Business?
[2009/11/24] China's Compulsive Savers
[2009/11/24] Heaviest Financial Burden
[2009/11/22] Education: Time For A Change?
[2009/11/22] Dangers Of Child Labor
[2009/11/21] Most Powerful Person In The World
[2009/11/20] State Banquet
[2009/11/20] Changed View Of Obama?
[2009/11/19] Reaction To Obama
[2009/11/19] China's Western Allies
[2009/11/18] Changed Dynamics In Sino-US Relationship
[2009/11/18] What Would You Ask Obama?
[2009/11/17] Obama Quizzed In Shanghai
[2009/11/17] USD-RMB Exchange Rate
[2009/11/16] Dear Mr President…
[2009/11/16] Favorite President
[2009/11/15] Obama Out Of Ten
[2009/11/15] US More Student Exchanges
[2009/11/14] SNS Lawsuit Action
[2009/11/14] Stars In Commercials
[2009/11/13] Gang Justice?
[2009/11/13] Do You Support The Death Penalty?
[2009/11/12] New PKU Entrance Regulations
[2009/11/12] Beijing Or Home After College?
[2009/11/11] Prostitution Crackdown
[2009/11/11] Migration: The Good And The Bad
[2009/11/10] Online Gaming Row
[2009/11/10] Mixed Marriages
[2009/11/08] Students Stripped Bare
[2009/11/08] Are Students Well Behaved?
[2009/11/07] Taking The Mickey?
[2009/11/07] Can Chinese Culture Compete?
[2009/11/06] Qualified Doctor
[2009/11/06] Tsien Hsue-Sen
[2009/11/05] Chinese Workers Compensated
[2009/11/05] Domestic Violence
[2009/11/04] Prisoner Parade
[2009/11/04] To Block, Or Not To Block?
[2009/11/03] PLA Seeks Academic Recruits
[2009/11/01] Mob Rule
[2009/10/31] Does Graying China Affect You?
[2009/10/31] Foolhardy Or Brave
[2009/10/30] Views On Germany?
[2009/10/30] Privacy Rights Of Minors
[2009/10/29] Capitalizing On Coal
[2009/10/29] Is More Religion Good?
[2009/10/28] Returned PHD Suicide
[2009/10/27] Marriage Before House?
[2009/10/27] Net Check: Price of Medicine
[2009/10/26] China Donations
[2009/10/26] Gay Parents
[2009/10/24] Home Brands Or Foreign Brands?
[2009/10/24] License To Kill?
[2009/10/23] Is China Car Boom Good?
[2009/10/23] Hijacked Bulk Carrier
[2009/10/22] Foreign Friends
[2009/10/22] HIV Blog Hoax
[2009/10/21] National Games Too Much?
[2009/10/21] Taxi Entrapment
[2009/10/20] China And The World
[2009/10/20] After School Controversy
[2009/10/17] Currency Manipulation
[2009/10/17] Chongqing Gangs
[2009/10/16] Medal of Dishonor
[2009/10/16] Should Gays Serve in the Military?
[2009/10/15] Chinese Hummer
[2009/10/15] Bus Row Fallout
[2009/10/15] Mainland Maternity
[2009/10/15] Marriage Rush
[2009/10/14] Wuhan University Scandal
[2009/10/14] Study Abroad or at Home?
[2009/10/13] Sun Yue's Future
[2009/10/13] Al-Qaida Threat
[2009/10/10] Where In The World?
[2009/10/10] Obama's Nobel Prize
[2009/10/09] Is Obama Doing a Good Job?
[2009/10/09] Was Rio The Right Choice?
[2009/10/09] Is Obama Doing a Good Job?
[2009/10/08] Chinese Donations
[2009/10/08] China and North Korea
[2009/10/07] Illegal Taxis
[2009/10/07] China's Labor Shortage
[2009/10/06] Saving Money
[2009/10/06] Anti-Japanese Feelings
[2009/10/05] Worried About Your Job?
[2009/10/05] Today's Degrees Useless
[2009/10/04] Safety in Beijing
[2009/10/04] Life of Luxury
[2009/10/03] National Day vs. Olympics
[2009/10/03] Spoilt Rich Kids
[2009/10/02] IS Beijing's Air Cleaner?
[2009/10/02] Airport Clearner Freed
[2009/10/01] Parade Reactions
[2009/09/30] Students Auction Reputation
[2009/09/30] Video Piracy
[2009/09/29] No Divorces In Chongqing?
[2009/09/29] National Day Celebrations
[2009/09/27] Animal Cruelty
[2009/09/27] Capital Parade
[2009/09/26] Rising Ticket Prices
[2009/09/26] National Day Plans
[2009/09/25] Hacker's Gift to Nation
[2009/09/25] Japan's New PM
[2009/09/24] China Flag at White House
[2009/09/24] Flight Cancellations
[2009/09/23] Official Property Rules
[2009/09/23] Welcome Back Liu Xiang
[2009/09/22] NBC vs. CCTV
[2009/09/20] Liu Xiang Come Back
[2009/09/20] Pricy Pooch
[2009/09/19] 50% Off Abortions
[2009/09/18] Do You Buy Green Products
[2009/09/18] Open Chest Surgery Case
[2009/09/17] Military Parade
[2009/09/17] China Tax Increase
[2009/09/16] Importance of Military
[2009/09/16] National Day Security
[2009/09/14] Airplane Safety

RELATED PROGRAMS

Beyond the Headlines May 24

NORTH KOREA IN THE DOCK
MASS WATER POISONING
HELPING THE MEDICINE GO DOWN
RISE AND FALL OF A TYCOON
AFRICAN PAVILION A HIT
SEX SWAP PROF
FUN AND GAMES
Biz Wire Nov. 05: Biz Events

Something For Super-Rich
Tycoon Makes Confucius Proud
Atrocity Victims Regain Names

The passionate recriminations that World War II still inspires here in East Asia may seem a little difficult to understand for westerners; but what anyone can identify with is the desire to find and put a name to the victims of horrific war crimes. Researchers at a university in northern China have done just that, shedding light on one of the darkest episodes in recent Chinese history.
MEDIA WATCH Jan. 14

Migrant Stabbed After Demanding Pay
Parents Kill Mentally Ill Son
Prison "Better Than Family"
Shanghai UNI To Open U.S. Branch
Skeleton Found Seven Years On
Gay Wedding Causes A Stir
Academic Honor
Prison Bullying

A newspaper report says a former inmate is now blind after he was allegedly being forced to drink two to four gallons a day for two months by another inmate. Police in Hebei Province is now investigating this case.

27 year old former inmate Qin YingWei says he was bullied into regular poker games by an intimidating inmate Yu while he was in prison in 2006. He says Yu threatened to beat him up and forced him to drink tap water every time he lost a game. For nearly two months, he drank between two to four gallons of water a day. He started to suffer health problems including swelling, scabies and later blindness in both eyes. Doctors say the continuously large amounts of water he swallowed damaged his internal organs.

Liu XiaoYuan, who has worked on similar cases, says they are common in Chinese prisons. So far this year there have been 15 reported incidents of inmates who have died in prison. But Liu says the actual number may be higher.
Media Watch Sept. 6: Bits & Pieces

All Translated
The Environmentalist Navi
Prison Fashion Show
A Wise Man
Free Car Wash
High-Tech Exam Cheating
Banned Hairstyles
Wang's Fall And Rise

Tony Zhou brings us one of the most iconic stories of Chinese basketball. The first Chinese man to ever play in the NBA, who was branded a traitor by the army here, and now captains the national team.
Media Watch Jan : 27

FRONT PAGE

NATIONAL NEWS
CAN CHINA, U.S. FORGE PARTNERSHIP?
CEOs RANK CHINA TOP FOR GROWTH
CHINESE PREMIER VISITS PETITIONERS
TOP 10 MADE-UP STORIES IN 2010
YAO CHEN BUMPS OPRAH OFF "TWITTER" LIST
CHINESE TYCOON GIVES TO U.S. COLLEGE

REGIONAL ROUND-UP
STANLEY HO AT WAR WITH THE FAMILY
CAR LOTTERY WINNERS ANNOUNCED
SELL BEIJING, BUY THE U.S.?
MIGRANT WORKERS BIKE BACK HOME
OFFICIALS "RISK LIVES" IN TIBET
FINE WINE GOES FOR STEEP PRICE
COLLAPSED BUILDING A HIT WITH BUYERS

BITS & PIECES
FAYE WONG WOWS TAIWAN
WOMANIZING TYCOON DIES AT 47
CONTROLLED DEMOLITION
HAIRY STATUES
SAUCY DEMAND
SURROGATE SERVICE'S PRICE SCALE

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