A federal court sentenced a Chinese billionaire convicted in an illegal political donation scheme to time served, with the billionaire leaving the country shortly after the fact. Hui Qin, a Chinese entertainment magnate who ran the Hong Kong-based firm SMI Culture, was sentenced to seven months in prison, equivalent to the time he spent in pre-trial detention, the U.S. Attorney’s Office of the Eastern District of New York announced on Thursday. Qin had earlier pleaded guilty to running a straw donor scheme that illegally funneled cash into congressional campaigns in New York and Rhode Island a…