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Guangdong woman mayor accused of corruption
By Zhang Xuanchen |
April 6, 2011, Wednesday
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Online Edition
Online Edition
A former female mayor in south China's Guangdong Province and her family members stood on trial today for alleged insider trading, disclosing insider information and taking bribes.
Li Qihong, former mayor of Zhongshan City, was accused of giving hints to her family members to buy 20 million yuan of stocks in June and July of 2007. The price of the stocks they bought jumped to a daily limit of 10 percent for 15 consecutive trading days, Beijing Times reported today.
Li, 56, allegedly took HK$400,000 in bribes in 2006 from a low-ranking official surnamed Liang to help him get the position of a deputy director in a government department.
Li also ordered the city's education department to help Liang's children to get enrolled in a local school.
Li Qihong, former mayor of Zhongshan City, was accused of giving hints to her family members to buy 20 million yuan of stocks in June and July of 2007. The price of the stocks they bought jumped to a daily limit of 10 percent for 15 consecutive trading days, Beijing Times reported today.
Li, 56, allegedly took HK$400,000 in bribes in 2006 from a low-ranking official surnamed Liang to help him get the position of a deputy director in a government department.
Li also ordered the city's education department to help Liang's children to get enrolled in a local school.
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