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June 10, 2011

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5m yuan graft fine

SHANGHAI Jiejie Real Estate Co Ltd has been fined 5 million yuan (US$771,605) for offering 15.71 million yuan in bribes to Lan Xiande and Fan Xiaobing, former senior executives of Shanghai Jiaoda Onlly Co, a well-known health care company, the Jing'an District People's Court said yesterday.

Jiejie presented shares as gifts to Lan and Fan in July 2003 to get real estate development qualification and capital from Onlly's subordinate company. It then offered them 15.71 million yuan between January 2006 and October 2007 under the guise of dividends. Last year, Lan was jailed for 20 years and Fan received six years for corruption.


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