Ex-staffers of Guo Wen­gui con­victed

China Daily (Hong Kong) - - TOP NEWS - By CHINA DAILY

Three for­mer ex­ec­u­tives of fugi­tive Chi­nese bil­lion­aire Guo Wen­gui were con­victed of fraud­u­lently ob­tain­ing loans and banker’s ac­cep­tances on Fri­day, and two of them re­ceived prison sen­tences, a court in He­nan prov­ince said on Fri­day.

Zhang Xincheng, for­mer fi­nan­cial direc­tor of the He­nan Yuda Real Es­tate Co, con­trolled by Guo Wen­gui, was sen­tenced to two years in prison, while Guo Li­jie, the com­pany’s for­mer deputy man­ager, was given a 18-month sen­tence in jail with a two-year re­prieve, ac­cord­ing to a ver­dict handed down by the Kaifeng In­ter­me­di­ate Peo­ple’s Court in He­nan.

An­other de­fen­dant, Xiao Yan­ling, the ex-deputy head of the com­pany’s fi­nan­cial depart­ment, was con­victed of fraud­u­lently ob­tain­ing the banker’s ac­cep­tance, a type of short-term debt, but she was ex­empted from a prison term, “as her crime was less se­ri­ous than the oth­ers and she vol­un­tar­ily sur­ren­dered af­ter she was de­tained,” the court said.

Zhang and Guo Li­jie were fined undis­closed amounts, while the com­pany was told to pay 150 mil­lion yuan ($22.33 mil­lion) in fines, ac­cord­ing to the ver­dicts.

“The three de­fen­dants fraud­u­lently ob­tained bank loans and ac­cep­tances of nearly 1.5 bil­lion yuan by reg­is­ter­ing shell cor­po­ra­tions, forg­ing con­tracts and em­ploy­ing fake in­vest­ment projects from 2008 to 2015, and com­mit­ted crimes in line with the Crim­i­nal Law,” the court said.

Some of the money was used to op­er­ate Bei­jing Pangu In­vest­ment Inc, also con­trolled by Guo Wen­gui, while some was trans­ferred over­seas, the court said.

“Although most of the money was fi­nally re­turned, 2.12 mil­lion yuan is still miss­ing,” it said.

The court be­gan hear­ing the case on July 12, and the three de­fen­dants said they com­mit­ted the crimes un­der or­ders from Guo Wen­gui, who fled over­seas about three years ago. They ex­pressed great re­gret in their fi­nal state­ments.

“We de­cided to le­niently pun­ish them, as they pleaded guilty with a good at­ti­tude and were not the ones who were lead­ers in the crimes,” the court added.

Af­ter the ver­dicts were pub­licly an­nounced on Fri­day, the three de­fen­dants said they ac­cepted the re­sults and would not ap­peal to a higher court.

In­for­ma­tion on the trial and an­nounce­ment of the re­sults, in­clud­ing pho­tos and videos, were dis­closed via the court’s of­fi­cial mi­cro blog.

In June, three other ex­ec­u­tives of the Bei­jing Pangu In­vest­ment Co were given prison terms by a court in Dalian, Liaon­ing prov­ince, for fraud­u­lently ob­tain­ing loans and for­eign cur­ren­cies val­ued at 3.2 bil­lion yuan from the Agri­cul­tural Bank of China in the name of the com­pany.

The amount that He­nan Yuda Real Es­tate Co was told to pay in fines


Bei­jing sub­way pas­sen­gers and armed po­lice try to tip a sub­way car to res­cue a pas­sen­ger trapped be­tween the car and a safety bar­rier at the Dongzhi­men sta­tion of Line 2 on Thurs­day. The vic­tim, a man sur­named Zhang, who crossed over the bar­rier as the train ar­rived, was rushed to a hos­pi­tal but later died.

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