Judge who funded mine placed on probation

By Jane Chen | May 31, 2010, Monday |

Online Edition

DAYS after losing his lawsuit to reclaim 11 million yuan (US$1.61 million) of dividends from a mine owner, a judge in northwest China has been placed on probation by the Communist Party of China for the illegal investment, the Chinese Business View newspaper reported today.

The Party Committee of Shenmu County of Shaanxi Province's Yulin City yesterday said it has placed Zhang Jifeng, 46, a judge with Shenmu People's Court, on probation within the Party for two years.

The court has removed Zhang from his post as vice dean of the court's supervision office. It may confiscate all the profit Zhang made on his investment.

The punishments are based on the second trial verdict announced last Friday on Zhang's lawsuit. Yulin Intermediate People's Court threw out Zhang's request for the dividends, ruling his investment was illegal as the country bans judges from investing in mines.

The court was told that Zhang sold two apartments to raise a total of 1.8 million yuan to invest in Chen Wangrong's mine in 2005, accounting for 10 percent of the mine's total investment.

He received 6.6 million yuan as dividends in the following two years but little later.

He didn't learn until 2008 that Chen had sold two-thirds of the mine's shares to two new investors in 2007.

The new investors offered 100 percent dividends to the investors in 2007 and 2008 but only 3 million yuan to Zhang.

Zhang then sued Chen in Hengshan County People's Court for 11 million yuan of unpaid dividends over the two years, valuing his 10 percent share at 50 million yuan.

The Hengshan court supported Zhang's lawsuit in the first trial and ordered Chen to pay the money back. But Chen appealed to the Yulin court alleging that Zhang, as a government worker, was illegally investing in mines.

Nation

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Judge who funded mine placed on probation

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