Cash hoard coal official gets heavy term in jail
Print Edition
A former Chinese official who stockpiled so many millions of yuan at his home that money-counting machines are reported to have broken when authorities tried to count the hoard was given a heavy prison sentence for corruption yesterday.
Wei Pengyuan, former deputy head of the coal department at China’s National Energy Administration, was found guilty of accepting more than 211.7 million yuan (US$31.4 million) in bribes, Xinhua news agency reported, citing a court in the northern province of Hebei.
He was sentenced to death with a two-year reprieve, a penalty that is normally commuted to life imprisonment.
According to the court statement, Wei was also found to have possessed a large amount of assets from unidentified sources.
After the two-year reprieve, Wei’s death penalty would be commuted to life imprisonment, and no further commutation or parole would be permitted, the statement said. All his ill-gotten assets would be confiscated, the statement added.
When Wei was put under investigation in 2014, he was found to have hoarded more than 200 million yuan in cash at home, Xinhua said.
Police had to use 16 money-counting machines to count the stash, with four of them breaking down during the process, the financial media outlet Caixin reported at the time.
The highest value Chinese banknote is 100 yuan. As such, Wei’s stash had to have contained at least two million individual notes.
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