Fan and her related companies were ordered to pay about 883m yuan ($129m) in fines and unpaid taxes after authorities found she failed to pay about 255m yuan in dues, according to the official Xinhua news agency, which cited the Jiangsu provincial taxation bureau.
But China's state news outlet Xinhau reported today that the actress faces about $70 million in fines, and another $37 million in back taxes (The Hollywood Reporter notes that other media outlets suggests the total could reach as high as $128 million).
Ms Fan and companies she represented also evaded 248 million yuan in additional taxes, Xinhua said, but gave no details regarding this figure. According to SCMP, during her disappearance, Fan was residing at a "holiday resort" in Jiangsu province that is used to house officials under investigation.
Her vanishing act sparked wild speculation in China about her fate, including reports she had been detained.
It's been three months since fans last saw Fan Bingbing in public.
But she disappeared from the public eye and her once active social media presence went silent in May after allegations emerged that she had evaded taxes on a lucrative movie shoot, charges her studio called "slander".
In the statement, Fan says she "accepts the judgement completely" and talks of the "immense pain" this experience has caused her. "After personal reflection, I feel deeply ashamed and guilty for what I've done", Fan wrote in her letter.
Adding to the intrigue of this mystery is the AP's note that Fan's agent is being held by police for allegedly obstructing the investigation.
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Fan's fine follows a crackdown on highly paid performers in June.
"I am unworthy of the trust of the society and let down the fans who love me", she wrote in her first update of her Weibo.com microblog since June 2.
Fan is a massive star in China.
Fan Bingbing attends the Givenchy show as part of the Paris Fashion Week Womenswear Spring/Summer 2018 on October 1, 2017 in Paris, France.
"Without the good policies of the party [Communist Party of China] and the state, and without the love of the people, there would be no Fan Bingbing".
She was accused of dodging her taxes by signing secret "yin and yang" contracts, which are public and private agreements in a bid to hide her real earnings, and avoid paying taxes.
The Chinese actor Fan Bingbing, who has been missing for months amid rumours of possible wrongdoing, has been fined for tax evasion.