China jails former steel boss for bribery,
A COURT in China yesterday jailed a former chairperson of Baoshan Iron and Steel, who went on to become vice-mayor of Shanghai, to 17 years for bribery and graft, a state broadcaster reported.
President Xi Jinping has waged war on graft for more than four years, ensnaring top politicians, leaders of stateowned enterprises, financial regulators and senior bankers.
Ai Baojun had used his positions to amass more than 40 million yuan (R77m) in assets from 2000 to 2014, a court in the southern city of Zhangzhou ruled, according to China Central Television (CCTV)
Ai is the most senior official from China’s financial hub to be sentenced in the corruption campaign. He could not be reached for comment.
The court also ruled that 5.8m yuan of Ai’s personal assets be confiscated and returned to Baosteel and to Shanghai city, CCTV said.
Ai was given a lenient sentence due to actively providing details of his crimes, which he accepted and apologised for, the court said, adding that many of the bribes were accepted by relatives without his knowledge.
China’s top anti-graft watchdog stripped Ai of his party and state positions in January last year after an investigation found him guilty of breaking party discipline rules, as well as the crimes he was sentenced for.