China
17:11, 11-Aug-2017
China puts five individuals related to fugitive Guo Wengui on trial
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The trial of another case related to China's most-wanted economic fugitive Guo Wengui began on Friday at a court in Dalian, in northeast China's Liaoning Province.
According to the court, defendants Qu Long and Zhao Yun'an are charged with misappropriating funds, and Gao Song, Ma Nan and Cheng Xiuhua are charged with abusing power to help Guo Wengui illegally obtain 400 million yuan (about 60 million US dollars) in 2012.
A trial related to Chinese fugitive Guo Wengui begins at a court in Dalian, northeast China's Liaoning Province, on August 11, 2017. /Weibo Photo
A trial related to Chinese fugitive Guo Wengui begins at a court in Dalian, northeast China's Liaoning Province, on August 11, 2017. /Weibo Photo
Earlier, the procuratorate in Dalian found that in 2008, to get Zhao Yun'an - then chairman of Tianjin Huatai Holding Group - out of jail, Zhao's wife approached Guo through an intermediary to bail him out.
With Guo's help, Zhao was granted bail, but promised to transfer Huatai's assets to Guo, so that Guo took control of the company.
In July 2008, without calling a board meeting, Guo directed Qu Long, former executive of Huatai, to transfer more than 400 million yuan (about 60 million US dollars) to companies controlled by Guo for Guo's personal use.
A trial related to Chinese fugitive Guo Wengui begins at a court in Dalian, northeast China's Liaoning Province, on August 11, 2017. /Weibo Photo
A trial related to Chinese fugitive Guo Wengui begins at a court in Dalian, northeast China's Liaoning Province, on August 11, 2017. /Weibo Photo
To keep the 400 million yuan, in 2012, Guo persuaded Gao Song, Ma Nan and Cheng Xiuhua, all former senior managers with Beijing Pangu Investment Company, to forge a series of agreements and memorandums and file a false civil court action.
Thus, Guo transferred liabilities worth over 400 million yuan to Zhengzhou Haohang Company which has no loan repayment capacity, so that he could illegally pocket the money.
During Friday's trial, all the five defendants pleaded guilty.
The trial attracted an audience of over 40 people, including legislators, political advisers, lawyers and journalists as well as members of the public.
The trial was broadcast live via the court's official Weibo microblog account.
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