Gu Chujun, former chairman of Chinese refrigerator maker Guangdong Kelon Electrical Holdings, also was fined 6.8 million yuan (S$1.3 million), the Shanghai Securities News and other state-run newspapers reported on Thursday.

Gu plans to appeal the sentence handed down on Wednesday by the Foshan Intermediate People's Court in southern China's Guangdong province, the Shanghai Securities News reported, citing his younger brother, Mr Gu Shaojun.

Seven other people were also sentenced on Wednesday in connection with Gu's case, receiving prison terms ranging from one to four years, the reports said.

The court's decision caps a long saga in one of China's most dramatic financial crime cases. During his trial, Gu reportedly sought to get his trial opened to press coverage and staged a hunger strike to press for his demands.

Financially troubled Guangdong Kelon, once China's biggest refrigerator maker, was acquired last year by Qingdao Hisense Air-Conditioning. Guangdong Kelon's shares have been suspended from trading on the Hong Kong Stock Exchange since June 2005 pending resolution of Gu's case and the completion of the acquisition by Hisense.

Gu was convicted of overstating the assets of his own company, Greencool Enterprise Development, in order to acquire Guangdong Kelon, the Shanghai Securities News said.

He later disclosed false financial information in order to prevent loss-making Guangdong Kelon from being delisted, it said.

Gu also was convicted of embezzling 353 million yuan from Guangdong Kelon and other companies, the newspaper Shanghai Daily reported. -- AP