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Bullet train tech icon Zhang confesses in court to corruption
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CHINESE high-speed railway technology icon Zhang Shuguang confessed in court and raised no dissent against a charge of corruption in Beijing this morning.
Zhang, who was deputy chief engineer and head of the transport bureau with the former Ministry of Railways, was sacked from his post in February in 2011 for economic violations. He has been accused of receiving huge bribes and helping contractors gain windfall profits from national funds.
He admitted taking bribes totaling 47.6 million yuan (US$ 7.8 million) between 2000 and 2011 at the Beijing No. 2 Intermediate People’s Court today.
With convenience of duty, Zhang was said to have awarded railway contracts to private companies, which resulted in excessive bills for the government. Zhang’s assets are said to amount to US$2.8 billion in banks in the US and Switzerland, the Investor Journal reported.
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