# China financial fraud

Former Guangzhou Tycoon Sentenced to Life as Cedar Holdings Collapse Leaves Retail Investors Ruined

A Guangzhou court sentenced Cedar Holdings founder Zhang Jin to life imprisonment and ordered confiscation of his assets after finding him guilty of large‑scale fundraising fraud. The collapse of Cedar’s trust and wealth products left about 6,800 investors short roughly RMB 20 billion, with retail holders likely to recover only a tiny fraction of their losses.