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Company boss on corruption charges

A SENIOR manager of several state-owned companies went on trial today charged with corruption involving 17.25 million yuan (US$2.53 million), accepting 8.35 million yuan in bribes and embezzling 57 million yuan.

Fan Xian, a 55-year-old local, used to be vice president of Shanghai Huayi (Group) Corp, chairman of the board of Double Coin Holdings Ltd and chairman of the board of Shanghai Soap (Group) Co Ltd. He was known for turning debt-ridden companies into profitable concerns.

Fan, denied most of the charges raised by the prosecutors in the hearing at the Shanghai No. 1 Intermediate People's Court today. He tried to avoid key questions. When the chief judge told him to answer questions directly, he began saying "I can't remember clearly" or "I don't know."


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