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November 16, 2012

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3 jailed for stealing silver bars worth 1.45m yuan

By Zhao Wen | November 16, 2012, Friday | Print Edition

THREE people who stole silver bars worth more than 1.45 million yuan (US$232,538) from a local investment company were sentenced to 13 years to 14 years in prison yesterday by the Putuo District People's Court.

Prosecutors said the main figure in the theft, surnamed Hu, was a former security guard of the investment company who planned the theft with two of his friends last December.

The company reported the theft to local police in February when it found eight boxes of silver weighing 233.66 kilograms were missing.

Hu was suspected of stealing the silver after leaving the company in January. Duty records showed Hu changed his day shift to the night shift with a colleague at the end of last year.

Hu told the court the theft idea occurred to him when he saw there was only a common anti-theft lock on the door of the warehouse. He bought some locksmith tools and asked two friends to help him.

The three stole eight boxes of silver, each with 16 silver bars, and transferred them to southeast China's Fujian Province, where they sold some of the silver bars for 800,000 yuan.

Five people who were involved in buying and selling the silver bars were given sentences ranging from four months of detention to three years in prison for concealing criminal income, the court ruled.

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