Latest News:  
Beijing   Overcast/Cloudy    13 / 21 ℃  City Forecast

English>>China Society

Greedy boss of state-owned gold refinery gets death sentence

By Zhao Wen (Shanghai Daily)

08:59, October 17, 2012

THE former CEO of a state-owned gold and silver refinery in Inner Mongolia Autonomous Region has been sentenced to death for taking bribes and embezzling 87 million yuan (US$13.87 million) of public assets including one ton of silver, Xinhua News Agency reported yesterday.

Song Wendai, former CEO and general manager of Qiankun Gold and Silver Refinery Co Ltd, illegally obtained 517 million shares of Qiankun and embezzled more than 10 million yuan from the company, the Bayan Nur Intermediate People's Court said.

Between 2002 and 2003, Song used the 10 million yuan as capital to register his own company and put 19 state-owned land plots, totaling 1,933 hectares, under the name of his private company. He leased these plots and collected 17 million yuan in rents, the court said.

Between March 2005 and December 2007, Song used his position to embezzle 11 million yuan from Qiankun and steal 25 million yuan by selling a gold mine under Qiankun. He also stole 12 million yuan of gold from his company.

Prosecutors seized 2.7 million yuan of cash, 134 kilograms of gold, 995.34 kilograms of silver, 81.09 grams of platinum, four houses and four vehicles from Song.

The former CEO of a state-owned gold and silver refine company in north China's Inner Mongolia Autonomous Region was sentenced to death penalty for grafting and embezzling public properties and funds totaling more than 87 million yuan (US$13.87 million), .

Xinhua said Song hid his stolen gold in a car parked in the underground garage of his Beijing home. All his confiscated assets will be handed over to the State Treasury, the court said.

Most viewed commentaries

Recommended News
Chinese students will study laureate's works Cables crisscross new bridge across Yangzte Hostage situation ends in police shooting
Largest tent mosaic created in Qingdao Panda 'Taotao' starts new life in the wild A billionaire's giveaway

Email|Print|Comments(Editor:梁军、马茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Nanjing MAC organizes actual-troop exercise

  2. Switzerland's Breitling Jet Team

  3. DPRK's top leader enjoys concert

  4. Exhibition marking 60th anniversary of NUAA

  5. Snow already for northern China

  6. Sany's bid to usurp Caterpillar

  7. Paintings? No,they're dishes!

  8. American singer Ke$ha graces magazine cover

Most Popular

Opinions

  1. Commentary: Japan's propaganda war on Diaoyu
  2. To Put political label on Chinese investors unfair
  3. Tokyo's war crime recognition crucial
  4. China bashing: Shame on American politics
  5. Protectionism cuts both ways for US businesses
  6. Commentary: US politicians' hypocrisy
  7. Created-in-China products need promoting
  8. Greater co-op called among China, S Korea, Japan
  9. Editorial: A Boon to the Economy
  10. Upsurge of giving birth in US should cool down

What’s happening in China

Snow already for northern China

  1. Permanent residency could get easier
  2. 'Hukou' scam alleged over ID lawsuit
  3. Food safety workers must pass rules quiz
  4. Expressway maintenance halted after road deaths
  5. Pollutants cited in early puberty among children