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36 million-yuan swindle ends in jail
By Tom Qian |
May 22, 2009, Friday
|
Online Edition
Online Edition
A FORMER cleaning company executive was sentenced to death with a two-year reprieve by Beijing People's Intermediate Court today for swindling more than 36 million yuan (US$ 5.26 million) by not disclosing housing purchases and company accounts.
Yu Xiaolan, 51, the former director of the business development department of the Beijing Environmental Sanitation Engineering Group, used 2.38 million yuan to buy three houses for herself and Tang Wenfu, the director of the transport section of the cleaning company, Chinacourt.org report today.
Part of the money was taken from the account of the Beijing Zhenghuan Trade Company, which was a part of the group and the rest came from a housing fund applied for in the name of the transport section.
Yu was given the chance to restructure a state-owned enterprise, Beijing Yiqing Environmental Sanitation Engineering Co, into the incorporated Yiqing Branch of Beijing Environmental Sanitation Engineering Group but did not report the Beijing Dongcun Garbage Treatment Co account which held 36 million yuan.
Tang had died and Yu was the only one who knew the existence of the account. She transferred 35 million to a private account secretly.
The scandal is the largest involved restructured state-owned enterprises in recent years in Beijing and all the money has been recovered.
Yu Xiaolan, 51, the former director of the business development department of the Beijing Environmental Sanitation Engineering Group, used 2.38 million yuan to buy three houses for herself and Tang Wenfu, the director of the transport section of the cleaning company, Chinacourt.org report today.
Part of the money was taken from the account of the Beijing Zhenghuan Trade Company, which was a part of the group and the rest came from a housing fund applied for in the name of the transport section.
Yu was given the chance to restructure a state-owned enterprise, Beijing Yiqing Environmental Sanitation Engineering Co, into the incorporated Yiqing Branch of Beijing Environmental Sanitation Engineering Group but did not report the Beijing Dongcun Garbage Treatment Co account which held 36 million yuan.
Tang had died and Yu was the only one who knew the existence of the account. She transferred 35 million to a private account secretly.
The scandal is the largest involved restructured state-owned enterprises in recent years in Beijing and all the money has been recovered.
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