Shanghai real estate tycoon faces new charges

Shanghai real estate tycoon who served a three-year prison term after a stock market scandal has been charged with new bribery and tax offenses, a state news agency reported Saturday. Zhou Zhengyi was detained in October amid a probe of government misconduct that brought down the Shanghai Communist Party secretary and other city leaders. Prosecutors have charged him with misappropriation of funds, bribery and forging value added tax receipts, the Xinhua News Agency said, citing unidentified people in the city prosecutor's office.