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Article: Former company chairman sentenced to life for bank fraud, taking bribes
- Article from:
- Xinhua News Agency
- Article date:
- February 12, 2009
CopyrightCopyright 2009 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Former company chairman sentenced to life for bank fraud, taking
bribes
JINAN, Feb. 12 (Xinhua) -- Zhang Jialing, former board chairman
of China Qingqi Group Co. Ltd, a large majority state-owned
motorcycle manufacturer, was sentenced to life in prison for letter
of credit fraud and taking bribes on Wednesday, a court in east
China's Shandong Province said.
All the wealth of Zhang, 67, who played a leading role in
promoting a small motorcycle manufacturer into the city's first
listed company in Shanghai Stock Exchange in the 1990s, was
confiscated.
In addition, the company was fined 10 million yuan for letter of
credit fraud. Its Guangsu branch was fined 12 million yuan for tax
evasion, ...