China sentences 'House Sister' to 3-year term for real estate fraud

In China, Gong Aiai, aka “House Sister,” accused of falsifying documents that allowed her to bypass permitting and other measures to curtail speculative residential real estate investment, has been sentenced to three years in prison.

Aiai, who grew a real estate portfolio worth $160 million that included 41 apartments in Beijing, was outed in February by whistle-blowers and became the face upon which lower-income Chinese pinned their frustrations of the rising home prices that have made it difficult for them to afford housing.

Source: New York Times