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August 13, 2010

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Tears in court after admission of bribery

THE former board chairman of state-owned Changjiang Computer Group Corp yesterday pleaded guilty to accepting more than 2 million yuan (US$294,800) in bribes and embezzling 1.48 million yuan.

Prosecutors said Jiao Zichun, 62, used the money to buy real estate. He owned six properties, including a villa.

Jiao offered no defense at Shanghai No. 2 Intermediate People's Court yesterday, nor was he represented by a lawyer. He wept at the end of the hearing. He said he wouldn't appeal whatever verdict the court came to but asked it to show mercy.

The court didn't announce a verdict after the hearing.

Jiao was board chairman of the state-owned company from October 1998 to June 2009.

From 1999 to 2003, Jiao helped Gu Jianguo, a private real estate company owner, obtain a plot in Songjiang District in the name of the Changjiang group. Gu developed a villa complex on the plot, prosecutors said.

Jiao also agreed to lend 50 million yuan of the company's capital to Gu to develop the project and allowed him to delay repayment.

To show his gratitude, Gu paid 50,000 yuan toward the cost of the wedding banquet of Jiao's son in 2003 and hired Jiao's son as general manager of a subsidiary company of his company, prosecutors said.

Gu also gave Jiao 500,000 yuan in 2002 and 1.4 million yuan in 2006. Jiao spent the money on real estate.

Another bribe of 57,000 yuan came from Ni Xizhang, who owned a packing materials company.

Ni asked Changjiang to be a partner in his company in 2000 in a bid to get more business in the name of the state-owned company. When he learned his company was to be relocated in 2006, he asked Jiao to withdraw the shares of Changjiang so that he could get all the compensation instead of sharing with Jiao. In return, Ni gave Jiao 57,000 yuan.

In addition to accepting bribes, Jiao also instructed Li Zhihong, general manager of a subsidiary company of Changjiang group, to embezzle 1.48 million yuan from the subsidiary for him to buy and decorate apartments.

Li embezzled 1.7 million yuan in fake payments to other companies. Besides the money given to Jiao, Li embezzled another 300,000 yuan.

Li's case was handled separately, officials said.


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