Former Tsinghua Unigroup chairman transferred to procuratorial authorities

BEIJING, March 20 (Xinhua) -- The case of Zhao Weiguo, former board chairman of China's Tsinghua Unigroup, has been transferred to procuratorial authorities for review and prosecution on suspicion of work-related crimes, the top anti-graft body announced on Monday.

The National Commission of Supervision said in a statement that it completed an investigation into Zhao's case.

It found that as a senior executive of the state-owned enterprise, Zhao was reckless with greed, acted unscrupulously, and betrayed his duties and responsibilities. Zhao was found to have taken the state-owned enterprise under his management as his domain, deliberately grabbing and occupying state-owned assets. He had illegally handed over the enterprise's profitable businesses to his relatives and friends and purchased products from companies run by his close contacts at significantly overcharged prices.

The commission also accused Zhao of inciting directors of certain listed companies to jeopardize the company's interests, causing massive losses to state interests.

Zhao's acts constitute the suspected crime of embezzlement, as well as offenses related to seeking illegal benefits and breach of trust that harm the interests of a listed company.

The case and the properties involved will be referred to the procuratorate for review and prosecution, said the commission.