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November 14, 2009

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3 imprisoned over home-sales scam

THREE government officials convicted of abusing power by selling homes meant for relocated people to government officials at cheap rates have been jailed by a court in east China's Zhejiang Province.

Rui'an City People's Court yesterday sentenced Wu Quanshu, former Party secretary of Wenzhou City Old Town Renovation Headquarters and director of Wenzhou United Housing Development Co Ltd, developer of the apartments, to three years in jail with a reprieve of four years.

Lin Guoquan, the company's manager, was jailed for two years with a reprieve of three years, and Zheng Xiaomeng, the company's operational director, received a one-year sentence with a reprieve of two years, yesterday's Qianjiang Evening News reported.

The trio sold 24 such apartments from 2005 to 2006 without permission for about 8,000 yuan (US$1,170) per square meter, 30 percent below the market value, the court said.

The sales resulted in a loss of 12 million yuan (US$1.76 million) for the local government, the report said.


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