Zhang Hongbo, the former chairman and legal representative of Sino-Australia Holding Group, the former richest man in Texas, three years after his arrest, his case was heard in the Texas People's Court, and the case lasted for a long time , and after two changes of prosecution, the People's Court finally charged Zhang Hongbo with five counts. Zhang Hongbo used his status as chairman to not only illegally occupy the company's funds, but also used the duck farmer's ID card to apply for overdraft cards at the Industrial and Commercial Bank of China, with a limit of 50,000 yuan, a total of 851 cards. Sino-Australian Group also used the company's POS machine to apply for overdraft cards. Swipe cards to withdraw cash, totaling up to 210 million yuan.

Zhang Hongbo grew up in a poor family. After he was admitted to college, he gave up the opportunity to go to college because of poor family conditions and started to operate a breeding industry. Because he had raised chickens with his grandmother since he was a child, he first focused on raising broiler chickens. , and later raised ducks, but the ducks were not easy to raise and often died. Zhang Hongbo began to learn professional knowledge for breeding. He specially introduced advanced duck breeds to professionalize duck raising. His business grew bigger and bigger, and he had exports to the European Union. Qualifications, and is called "European number". Zhang Hongbo's company, Sino-Australia Group, has helped nearly 10,000 farmers get out of poverty and become rich. It is a leader in the country's meat duck production industry and has strong assets. He is known as the richest man in Texas.

Sino-Australia Group was founded by Zhang Hongbo. Unfortunately, he did not cherish this hard-won achievement. In 2017, Zhang Hongbo was detained by the Qingyun County Public Security Bureau, and his brother Zhang Hang and others were also arrested , after Zhang Hongbo was arrested, the company declared bankruptcy. After that, Sino-Australia Group entered the reorganization stage. What people didn’t expect was that it was only during the liquidation process that the company discovered that Sino-Australia Group’s debt had reached 3 billion yuan. , Sino-Australia Group failed to restructure.

The reporter said that only Zhang Hongbo was in court during the trial. He was wearing protective clothing and a mask. The trial was mainly based on questioning, and Zhang Hongbo also expressed his opinions. Due to the complexity of the case, the trial may last several days, and Zhang Hongbo's defense lawyer will defend his innocence.