Top executive of Chinese firm sentenced to 10 years in jail
A top executive of a leading Chinese refrigerator maker was sentenced to 10 years in jail on charges of fraud and embezzling millions of US dollars by a court in Guanzhou province.
By PTI |
BEIJING: A top executive of a leading Chinese refrigerator maker was sentenced to 10 years in jail on charges of fraud and embezzling millions of US dollars by a court in Guanzhou province.
Gu Chujun, former Chairman of Guangdong Kelon Electrical Holdings Co Ltd, was held guilty of embezzling $43.5 million from Kelon and two other companies in collusion with others, state media reported from Guanzhou.
The Foshan Intermediate Peoples Court also found him guilty of falsely registering the capital of Greencool Enterprise Development Company, which he set up in 2001 and publishing falsified financial reports for the listed Kelon.
Along with Gu, who was also fined $940,000, seven others received sentences ranging from one to four years, the official news agency said.
Gus relatives and lawyer said they would appeal against the verdict.
Gu Chujun, former Chairman of Guangdong Kelon Electrical Holdings Co Ltd, was held guilty of embezzling $43.5 million from Kelon and two other companies in collusion with others, state media reported from Guanzhou.
The Foshan Intermediate Peoples Court also found him guilty of falsely registering the capital of Greencool Enterprise Development Company, which he set up in 2001 and publishing falsified financial reports for the listed Kelon.
Along with Gu, who was also fined $940,000, seven others received sentences ranging from one to four years, the official news agency said.
Gus relatives and lawyer said they would appeal against the verdict.
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