A man, who embezzled 110m yuan in state funds (13
A man, who embezzled 110m yuan in state funds (13
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A man, who embezzled 110m yuan in state funds (13.3m US dollars), was sentenced to death by the First Intermediate People's Court of Beijing.
Song Zhangai, 44, a one-time clerk for the China Huarong Trust and Investment Corporation (CHTIC), was accused of embezzling huge amounts of money between 1992 and 1996. He opened seven accounts in local banks and took out bank loans supposedly for CHTIC, which was totally unaware of his illegal operation, according to the court.
The Intermediate People's Court of Beijing passed the death sentence on Song with confiscation of all his individual property and deprivation of political rights for his life.
Song Zhangai, 44, a one-time clerk for the China Huarong Trust and Investment Corporation (CHTIC), was accused of embezzling huge amounts of money between 1992 and 1996. He opened seven accounts in local banks and took out bank loans supposedly for CHTIC, which was totally unaware of his illegal operation, according to the court.
The Intermediate People's Court of Beijing passed the death sentence on Song with confiscation of all his individual property and deprivation of political rights for his life.
— SOURCES
- (Sources: Xinhua monitored by BBC, 09/11/2001)
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