Five people stood trial on Friday in the northeast China's city of Dalian, in a case related to one of China's most-wanted economic fugitive, Guo Wengui. Guo fled to the United States in 2014 under suspicion of multiple crimes. Natalie Pang has more.

 

Guo Wengui -- the actual controlling shareholder of Beijing Pangu Investment and Beijing Zenith Holdings -- fled China in August 2014. Guo is currently listed under an Interpol "red notice" for wanted fugitives. In 2012, Guo Wengui ordered Gao Song, then deputy general manager of Beijing Pangu Investment, to plan a three party agreement,  fabricating agreements and the minutes of a meeting in order to illegally obtain creditor's rights worth 400 million RMB from Yuanrun Holdings. The defendants Gao Song, Ma Nan and Cheng Xiuhua are charged with abusing their positions at Beijing Pangu Investment to help Guo illegally obtain the funds.

 

GAO SONG SUSPECT "What I did under the instructions from Guo Wengui violated the law. I plead guilty to the charges of misappropriation. I'm subject to punishments under the law for my behavior, which has also brought harm to my family. I deeply regret the crimes that I committed, and I am willing to accept the verdict of the court. And finally I want to express appreciation to the law enforcement body for the fair and civilized treatment I received." Separately, the defendants Qu Long, Zhao Yun'an are charged with misappropriating funds from the company Tianjin Huatai. Prosecutors say they illegally transferred the ownership of the company worth 300-hundred-million yuan to Guo in 2008. All the suspects say they received direct and indirect instructions from Guo Wengui, and pleaded guilty. The court says it will pronounce the verdict at a date to be decided.