FILE PHOTO – China Zhongwang Holdings Chairman Liu Zhongtian toasts during the debut of Zhongwang Holdings at the Hong Kong Stock Exchange May 8, 2009. REUTERS/Bobby Yip/File Photo
July 31, 2019
WASHINGTON (Reuters) – Liu Zhongtian, a Chinese billionaire and the founder of aluminum giant China Zhongwang Holdings Ltd <1333.HK>, has been indicted by a U.S. federal grand jury on charges that he was part of a conspiracy to evade nearly $2 billion in tariffs, the Wall Street Journal reported on Wednesday.
The indictment, which was reached in May but not unsealed until this week, alleges the scheme was hatched in 2008 and has continued to the present day, according to the newspaper.
(Reporting by Makini Brice; Editing by Tim Ahmann)