The bidding for Lot 17 started at $23 million. In the packed room at Sotheby’s in Manhattan, the price quickly climbed: $32 million, $42 million, $48 million. Then a new prospective buyer, calling from China, made it a contest between just two people. On the block that evening in November 2014 were works by Impressionist painters and Modernist sculptors that would make the auction the most successful yet in the firm’s history. But one painting drew particular attention: “Still Life, Vase with Daisies and Poppies,” completed by Vincent van Gogh weeks…
Tag: Xiao Jianhua
Xiao Jianhua Sentenced to 13 Years for Financial Crimes
HONG KONG — Xiao Jianhua, the Chinese Canadian billionaire and onetime trusted financier to China’s ruling elite, was sentenced to 13 years in prison on Friday, and his company fined $8 billion, after he pleaded guilty to bribery and other crimes that the authorities said had “seriously jeopardized” the country’s financial security. Mr. Xiao, whose Tomorrow Group umbrella of companies was once worth hundreds of billions of dollars, was also fined $1 million, a Shanghai court said on Friday. One of several Chinese business tycoons caught in the cross hairs…