Supreme Court acquits ex-retail tycoon
Print Edition
Zhang Wenzhong, former chairman of retail company Wumei Holdings, was acquitted of fraud, bribery and embezzlement charges yesterday following a retrial by the Supreme People鈥檚 Court.
The SPC ruling also acquitted Zhang Weichun and Wumei Holdings 鈥 two other defendants in the case 鈥 of charges of fraud and bribes, respectively.
Zhang Wenzhong, Zhang Weichun and the retail company were prosecuted in 2007 by the Municipal People鈥檚 Procuratorate of Hengshui in north China鈥檚 Hebei Province.
After the defendants were given sentences and fined according to a ruling by the Intermediate People鈥檚 Court of Hengshui in 2008, they petitioned the Hebei Higher People鈥檚 Court.
Zhang Wenzhong was sentenced to 12 years in prison and fined 500,000 yuan (US$ 78,000) over previous charges in a final ruling by the Hebei Higher People鈥檚 Court in 2009.
He petitioned the SPC in October 2016 and the SPC decided to reopen the case for trial in December 2017.
The SPC ruling identified faults in ascertaining facts and applying laws in the previous instances, stating such errors must be rectified in accordance with the law.
The court said national compensation procedures and the retrieval of fines and property will be launched as ascertained in law.
More than 80 people, including relatives of the defendants, representatives of employees of Wumei Holdings, legislators, political advisors, academics, representatives of relevant institutions, and members of the public were present in court when the verdict was given.
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