Top 10 runaway Chinese tycoons (3)

15:27, August 04, 2010      

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Yu Zhendong


Yu Zhendong

Amount of money: 4 billion yuan

Together with others, Yu Zhendong transferred 483 million U.S. dollars to another country when he served as the president of BOC Kaiping Branch. In October 2001, Yu and other two persons entered the United States with false documents. On April 16, 2004, Yu Zhendong was handed over to Chinese judiciary by the agents of U.S. Federal Bureau of Investigation at the Beijing Capital Airport.

Yu Zhendong, with a university education, 42 years old, was born in Kaiping, Guangdong. In 1982, Yu Zhendong formally entered the Kaiping branch of Bank of China and served successively as the Deputy Minister of Finance and the Minister of Finance, and then was promoted to the Vice President and President. The first corruption case of China with 483 million U.S. dollars involved – the Kaiping case had lasted more than four years until the principal criminal Yu was repatriated to China on April 8, 2004 from the United States. Before that day, no one had received any punishment or sanctions under Chinese law.

Yu Zhendong, was the first repatriated corrupt official from the United States and the largest corrupt official in the history of the People’s Republic of China. In 2004, Yu Zhendong, not only could not be judged by the legal practice and game rules of China, and even the international routine of "life imprisonment" could not be implemented absolutely. There was only less than 12 years in prison for his theft of 483 million U.S. dollars of China. In this case, there are a series of advanced, earth-shattering, unique historic and significant conflicts with the justice, legal profession in China and international world.
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(Editor:张茜)

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  • Staff members watch a screen showing the blast-off of the Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module at Beijing Aerospace Control Center, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Wang Shen)
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)

  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
http://english.people.com.cn/90001/90776/90785/7092952.pdf