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Life insurance exec sentenced to jail
March 21, 2009, Saturday
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Print Edition
SONG Hao, a former sales executive of a local life insurance company was sentenced for 18 months in prison for embezzling 5.3 million yuan (US$776,130), the Jing'an District People's Court ruled yesterday. Song, 38, retained part of the returned premiums of the clients and put the money into the stock market for private investment from April 2007 to November 2008. When he was caught, he had lost about 1 million yuan in stock investment.
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