Company big boss held for bribery
By Xu Fang |
May 26, 2011, Thursday
|
Print Edition
Print Edition
THE board chairman of a state-owned company has been arrested for allegedly taking bribes and holding huge unidentified property worth millions of yuan.
Prosecutors in Minhang District are still investigating the exact amount of money involved in the case. The suspect, identified as Lian, defended the large amount of cash at his home, saying he had won a lottery and inherited a huge legacy from his parents.
Lian was made board chairman of a state-owned company about 10 years ago when he was 48. He soon met a woman surnamed Liu, who ran a construction company and they became close. In 2000, Lian agreed to Liu's suggestion of buying apartments together for their college-going daughters.
Liu accompanied Lian to select an apartment valued at nearly 1 million yuan (US$153,846) in Kunshan, Jiangsu Province. Liu then signed a trade contract with the developer in the name of Lian's daughter, prosecutors alleged.
After that, thanks to Lian, Liu won several big construction projects. To show her gratitude, Liu presented an apartment in Shandong Province to Lian in March 2005 and paid 300,000 yuan in down payment for another apartment bought by Lian, prosecutors said.
Prosecutors in Minhang District are still investigating the exact amount of money involved in the case. The suspect, identified as Lian, defended the large amount of cash at his home, saying he had won a lottery and inherited a huge legacy from his parents.
Lian was made board chairman of a state-owned company about 10 years ago when he was 48. He soon met a woman surnamed Liu, who ran a construction company and they became close. In 2000, Lian agreed to Liu's suggestion of buying apartments together for their college-going daughters.
Liu accompanied Lian to select an apartment valued at nearly 1 million yuan (US$153,846) in Kunshan, Jiangsu Province. Liu then signed a trade contract with the developer in the name of Lian's daughter, prosecutors alleged.
After that, thanks to Lian, Liu won several big construction projects. To show her gratitude, Liu presented an apartment in Shandong Province to Lian in March 2005 and paid 300,000 yuan in down payment for another apartment bought by Lian, prosecutors said.
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