WASHINGTON/NEW YORK—A Chinese billionaire has been indicted by a grand jury on charges he schemed with the aluminum company he founded to evade $1.8 billion of tariffs by smuggling huge amounts of the metal into the United States, federal prosecutors said on July 31.
Liu Zhongtian, 55, and China Zhongwang Holdings Ltd., where he served as chairman and president, were among several defendants charged in a 24-count indictment by the Los Angeles grand jury.
