Hong Kong tycoon Thomas Lau, the managing director of Lifestyle, has been put on trial twice for insider trading. In 1999 he was cleared of all charges, but in 2006 he was forced to pay $3.9 million to the Chinese government and step down as chairman of the board of Chinese Estates Holdings, his brother’s real-estate company. (Thomas’s brother, Joseph, is also included on the ARTnews Top 200.) Lau collects modern and contemporary art.
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