Defendant's bribe claim

By Stan Lee | March 27, 2009, Friday |

Print Edition

A FORMER senior investment banker who is appealing against a death sentence for embezzlement said the 60 million yuan (US$8.78 million) he stole was all given to officials as bribes. For the past five years he had refused to say where the money had gone.

Yang Yanming said on Wednesday that he gave the money to government officials. When he was asked to disclose the identities of those who took the bribes, he refused at first but said later he could cooperate with investigators if the bribe-takers were seized.

Yang's attorney Qian Lieyang, said if Yang was executed those who took the money would get away with their crimes. Yang's death wouldn't recover the economic loss or uncover the truth, Qian said.

Yang once served China Great Wall Trust and Investment Corporation as the general manager of its securities business in Beijing.

He was prosecuted for embezzlement and misusing nearly 100 million yuan of public funds during his tenure between June 1998 and August 2003.

Yang refused to tell investigators where the 60 million yuan he stole had ended up.

He was sentenced to death and then appealed to Beijing Higher People's Court, which told the court of the first instance to rehear the case.

However, Yang was sentenced to death again and appealed to the Beijing higher court a second time.

Nation

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Defendant's bribe claim

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