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Rio Tinto three lose appeals
By Angela Xu |
May 17, 2010, Monday
|
Online Edition
Online Edition
THREE jailed former employees of mining giant Rio Tinto today had their appeals rejected by Shanghai Higher People's Court.
Jail terms ranging from seven to 14 years were upheld on charges of accepting bribes and stealing commercial secrets for Wang Yong, Ge Minqiang and Liu Caikui.
Stern Hu, an Australian national who used to head Rio Tinto's iron ore operations in China, didn't appeal against his 10-year sentence after Shanghai No. 1 Intermediate People's Court announced the verdict on March 29.
Hu, who has returned all his ill-gotten gains, was also fined 1 million yuan (US$146,413) for accepting 6.46 million yuan in bribes and stealing business secrets.
Wang received the most severe sentence of 14 years and a fine of 5.2 million yuan for accepting 75 million yuan in bribes and stealing commercial secrets. Ge was jailed for eight years and fined 800,000 yuan, while Liu received seven years and a fine of 700,000 yuan.
Rio sacked all the four employees after the verdict.
"We have been informed of the clear evidence presented in court that showed beyond doubt that the four convicted employees had accepted bribes," Sam Walsh, the chief executive of Rio Tinto Iron Ore, said after the first trial.
The four all admitted taking bribes but disputed the amounts. Three denied stealing commercial secrets.
The four accepted bribes from medium and small Chinese steel companies in exchange for lining up preferential contracts, the court ruled.
The four also used Rio's advantageous position in the iron ore trade to inquire about secret meetings of the China Iron and Steel Association and iron ore prices Chinese steel companies desired in negotiations.
More than 20 Chinese steel firms prepaid 1.02 billion yuan more than they should have in 2009 for their iron ore imports because of the crimes committed by the four, the court heard.
Jail terms ranging from seven to 14 years were upheld on charges of accepting bribes and stealing commercial secrets for Wang Yong, Ge Minqiang and Liu Caikui.
Stern Hu, an Australian national who used to head Rio Tinto's iron ore operations in China, didn't appeal against his 10-year sentence after Shanghai No. 1 Intermediate People's Court announced the verdict on March 29.
Hu, who has returned all his ill-gotten gains, was also fined 1 million yuan (US$146,413) for accepting 6.46 million yuan in bribes and stealing business secrets.
Wang received the most severe sentence of 14 years and a fine of 5.2 million yuan for accepting 75 million yuan in bribes and stealing commercial secrets. Ge was jailed for eight years and fined 800,000 yuan, while Liu received seven years and a fine of 700,000 yuan.
Rio sacked all the four employees after the verdict.
"We have been informed of the clear evidence presented in court that showed beyond doubt that the four convicted employees had accepted bribes," Sam Walsh, the chief executive of Rio Tinto Iron Ore, said after the first trial.
The four all admitted taking bribes but disputed the amounts. Three denied stealing commercial secrets.
The four accepted bribes from medium and small Chinese steel companies in exchange for lining up preferential contracts, the court ruled.
The four also used Rio's advantageous position in the iron ore trade to inquire about secret meetings of the China Iron and Steel Association and iron ore prices Chinese steel companies desired in negotiations.
More than 20 Chinese steel firms prepaid 1.02 billion yuan more than they should have in 2009 for their iron ore imports because of the crimes committed by the four, the court heard.
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