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Life in jail for corrupt company head
By Xu Fang |
January 21, 2010, Thursday
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Online Edition
Online Edition
A FORMER state-owned company manager has been jailed for life for defrauding 35.8 million yuan (US$5.24 million) in public assets by concealing ownership of two land plots while his company was going private.
Shanghai No. 1 Intermediate People's Court also confiscated 20 million yuan in personal property from Qin Jinlong.
Ding Beili, the company's former financial manager, was also jailed for seven years and Zhang Yong, former chief supervisor, was given a suspended sentence of three years by the court.
The court said it estimated Ding and Zhang embezzled 18.2 million yuan between them. Zhang got a suspended sentence because he surrendered himself and confessed everything, judges said.
Shanghai No. 1 Intermediate People's Court also confiscated 20 million yuan in personal property from Qin Jinlong.
Ding Beili, the company's former financial manager, was also jailed for seven years and Zhang Yong, former chief supervisor, was given a suspended sentence of three years by the court.
The court said it estimated Ding and Zhang embezzled 18.2 million yuan between them. Zhang got a suspended sentence because he surrendered himself and confessed everything, judges said.
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