The Supreme People’s Court said it was sending 31-year-old Wu Ying back for retrial in her home province of Zhejiang in China’s southeast.

Wu was known for a rags-to-riches story in which she built up a multimillion-dollar business. State media praised her as an example to Chinese female entrepreneurs. But she later was convicted of illegally raising 750 million yuan ($120 million) from investors in 2005-07.

Wu’s penalty prompted an outcry on Internet bulletin boards by supporters who said it was too severe in a system in which corrupt Communist Party officials often escape punishment.

The case also prompted debate over the financial difficulties Chinese entrepreneurs face in raising money in a country where the state-owned banking system channels most lending to state companies.

The communist government has launched a pilot project in Wu’s home city of Wenzhou, known for its thriving private enterprises, aimed at making it easier for entrepreneurs to get bank loans.

According to state media, Wu dropped out of school as teenager and began her business empire with a hair salon.

Like many entrepreneurs, she raised money from private lenders outside the government-controlled banking system.

Communist authorities have tolerated underground lending as a way to support entrepreneurs who create jobs and tax revenue. But they began cracking down in recent years, apparently concerned about the large scale of borrowing and the possible involvement of state banks and companies.

Some news reports have said Wu was accused of cheating investors, but details of her case have not been released.