Trio removed from posts amid corruption probe
By Wang Qingchu |
00:00 UTC+8 February 22, 2012
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Print Edition
Print Edition
TWO senior bank executives and a former government official have been removed from their posts after a rich young businesswoman exposed their alleged corruption while being investigated for financial fraud.
Put under investigation were: Liang Hua, head of an Agricultural Bank of China (AgBank) outlet in Lishui, east China's Zhejiang Province; Li Tiangui, former deputy director of the people's congress of the city of Jingmen in Hubei Province; and the deputy director of AgBank's Jingmen branch, surnamed Zhou.
Wu Ying disclosed their violations while she was probed for illegally pooling 770 million yuan (US$122 million) from private creditors to fund her businesses under the Zhejiang-based Bense Holding Group between 2005 and 2007, Oriental Outlook reported yesterday.
Wu, 31, was sentenced to death for fraud by the intermediate court of Zhejiang's Jinhua City in December 2009. The verdict was upheld by Zhejiang Higher People's Court last month. The Supreme People's Court is reviewing the death sentence.
According to Wu's lawyer Zhang Yanfeng, Wu revealed corrupt activities of more than 10 government officials and bank executives, the report said.
Her case has sparked debate nationwide over whether the sentence was too severe.
Wu, 31, built a business empire from a single beauty salon in three years. In 2006 she was the sixth-richest woman on Chinese mainland with assets worth 3.6 billion yuan.
Put under investigation were: Liang Hua, head of an Agricultural Bank of China (AgBank) outlet in Lishui, east China's Zhejiang Province; Li Tiangui, former deputy director of the people's congress of the city of Jingmen in Hubei Province; and the deputy director of AgBank's Jingmen branch, surnamed Zhou.
Wu Ying disclosed their violations while she was probed for illegally pooling 770 million yuan (US$122 million) from private creditors to fund her businesses under the Zhejiang-based Bense Holding Group between 2005 and 2007, Oriental Outlook reported yesterday.
Wu, 31, was sentenced to death for fraud by the intermediate court of Zhejiang's Jinhua City in December 2009. The verdict was upheld by Zhejiang Higher People's Court last month. The Supreme People's Court is reviewing the death sentence.
According to Wu's lawyer Zhang Yanfeng, Wu revealed corrupt activities of more than 10 government officials and bank executives, the report said.
Her case has sparked debate nationwide over whether the sentence was too severe.
Wu, 31, built a business empire from a single beauty salon in three years. In 2006 she was the sixth-richest woman on Chinese mainland with assets worth 3.6 billion yuan.
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