Former Xinhua Finance chief sentenced

A previously celebrated American businesswoman in China has been sentenced to a month in prison for violating US tax code, although broader fraud allegations were dismissed, The Wall Street Journal reported. Lawyers for Loretta Fredy Bush, a founder and former CEO of China financial information conglomerate Xinhua Finance, called for leniency in light of her health problems, saying a health condition could lead to blindness. Two former Xinhua Finance directors, Dennis Pelino and Shelly Singhal, were sentenced to nine months. Bush had previously been named on a list of “Women to Watch” by The Wall street Journal. All defendants received a US$20,000 fine. Xinhua Finance is now called Xinhua Holdings (9399.TYO).