Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
High flier grounded for life
By Tom Qian |
May 26, 2009, Tuesday
|
Online Edition
Online Edition
A HIGH-ranking space industry official who gambled up to 2 million yuan (US$293,140) a night in Hong Kong and Macau has been sentenced to life imprisonment.
The Beijing No. 1 Intermediate People's Court sentenced Wang Daqing, the former assistant to the general manager of China Spaceflight Industry General Company, to life imprisonment for embezzlement and the misuse of public funds worth more than 9.72 million yuan, The Beijing News reported today.
Wang flew from Beijing to Hong Kong or Macau 17 times from from 2000 to 2003. Wang played big and could lose 2 million yuan a night, a fellow gambler surnamed Chen said.
One of Wang's employees said he managed two branch companies for the China Spaceflight Industry General Company but he never submitted balance sheets or profits to headquarters.
Wang was the only person authorized to use the money in the company's accounts and was the only one who knew the details of the accounts. Wang ordered employees in the finance department to hand over checks to a woman surnamed Ma in Shenzhen. Ma would then send the money to Hong Kong or Macau for gambling, mostly at the Hotel Lisboa in Macau, using her own accounts with underground banks.
Wang appealed to the Beijing Higher People's Court after the first hearing by the intermediate court, which sentenced him to life imprisonment for same crimes. The higher court rejected the appeal and ordered the court to deliver a second sentence.
Wang used 800,000 yuan from the company's funds to play the stock market as well.
The Beijing No. 1 Intermediate People's Court sentenced Wang Daqing, the former assistant to the general manager of China Spaceflight Industry General Company, to life imprisonment for embezzlement and the misuse of public funds worth more than 9.72 million yuan, The Beijing News reported today.
Wang flew from Beijing to Hong Kong or Macau 17 times from from 2000 to 2003. Wang played big and could lose 2 million yuan a night, a fellow gambler surnamed Chen said.
One of Wang's employees said he managed two branch companies for the China Spaceflight Industry General Company but he never submitted balance sheets or profits to headquarters.
Wang was the only person authorized to use the money in the company's accounts and was the only one who knew the details of the accounts. Wang ordered employees in the finance department to hand over checks to a woman surnamed Ma in Shenzhen. Ma would then send the money to Hong Kong or Macau for gambling, mostly at the Hotel Lisboa in Macau, using her own accounts with underground banks.
Wang appealed to the Beijing Higher People's Court after the first hearing by the intermediate court, which sentenced him to life imprisonment for same crimes. The higher court rejected the appeal and ordered the court to deliver a second sentence.
Wang used 800,000 yuan from the company's funds to play the stock market as well.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
