Deadly call on official
By Echo Wang |
May 21, 2010, Friday
|
Print Edition
Print Edition
A FORMER senior official in the Ministry of Commerce was yesterday sentenced to death with a two-year reprieve for taking 8.45 million yuan (US$1.23 million) in bribes.
Guo Jingyi is the highest-ranking official brought down by corruption since the ministry was set up in 2003.
Beijing No. 2 Intermediate People's Court also ruled that all his personal assets be confiscated.
Under law, the death sentence will be commuted to life in prison if Guo behaves during the two years of reprieve.
The 44-year-old former head of the ministry's treaty and law department was found guilty of graft that was made up of 6.8 million yuan in cash and 1.65 million yuan in real estate accumulated during his four-year tenure.
He helped people who paid him off bypass laws.
Guo received 1.1 million yuan from Huang Guangyu, who was jailed for 14 years on Tuesday.
He helped Huang's company, GOME, in the listing process for the Hong Kong Stocks Exchange in 2004.
In part, Guo lifted a limit on the percentage of shares foreign investors could hold in Chinese companies.
As the head of the anti-monopoly office in the ministry, Guo also helped GOME to bypass a hearing in 2006 and complete two big mergers.
Guo cooperated with Liu Wei, the former official in charge of foreign investment registration in the State Administration for Industry and Commerce, to help Beijing-based Capital Group to start a foreign-fund company.
Prosecutors said they gained about 1.3 million yuan each from the deal.
Guo Jingyi is the highest-ranking official brought down by corruption since the ministry was set up in 2003.
Beijing No. 2 Intermediate People's Court also ruled that all his personal assets be confiscated.
Under law, the death sentence will be commuted to life in prison if Guo behaves during the two years of reprieve.
The 44-year-old former head of the ministry's treaty and law department was found guilty of graft that was made up of 6.8 million yuan in cash and 1.65 million yuan in real estate accumulated during his four-year tenure.
He helped people who paid him off bypass laws.
Guo received 1.1 million yuan from Huang Guangyu, who was jailed for 14 years on Tuesday.
He helped Huang's company, GOME, in the listing process for the Hong Kong Stocks Exchange in 2004.
In part, Guo lifted a limit on the percentage of shares foreign investors could hold in Chinese companies.
As the head of the anti-monopoly office in the ministry, Guo also helped GOME to bypass a hearing in 2006 and complete two big mergers.
Guo cooperated with Liu Wei, the former official in charge of foreign investment registration in the State Administration for Industry and Commerce, to help Beijing-based Capital Group to start a foreign-fund company.
Prosecutors said they gained about 1.3 million yuan each from the deal.
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