Friday, October 23, 2020

Ex-chairman of Kweichow Moutai charged with bribery

-

Yuan Renguo, former chairman of Kweichow Moutai Group, has been charged with accepting bribes by Guiyang City People’s Procuratorate, according to Supreme People’s Procuratorate (SPP) on Friday.

The Guiyang City People’s Procuratorate has prosecuted the case to Guiyang City Intermediate People’s Court and the court hearing will be held at a later date, the SPP said in a statement on Friday.

According to the indictment, he took advantage of his job to gain benefits for other enterprises and individuals, then accepted huge bribes either paid in cash or other properties.

Yuan, 62, was born in Renhuai, Guizhou, where the Moutai group is located. He joined Moutai in 1975 and became deputy manager in 1990.

- Advertisement -

Between 1990 and 2018, he mainly served as deputy manager and manager of Kweichow Moutai Group, vice-chairman and chairman of Kweichow Moutai Group.

AlsoChina’s military demotes over 70 officers ‘for bribing Fang Fenghui’

He was replaced by Li Baofang as the chairman of Moutai group in May 2018. One year later, he was dismissed from the Guizhou Committee of the Chinese People’s Political Consultative Conference.

According to the SPP, the prosecutors informed his litigation rights and listened carefully to his lawyer’s statement of defense during the interrogation to protect his legitimate rights.

- Advertisement -

MUST READ

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Fundraiser Elliott Broidy pleads guilty in foreign agent case linked to 1MDB

Major Republican Party and Trump fundraiser Elliott Broidy pleaded guilty Tuesday to acting as an unregistered foreign agent, admitting to accepting millions...
Advertisement
Advertisement

Latest News

This Week

Former Malawi minister sentenced to six years in prison over passport corruption scandal

A court in Malawi’s capital Lilongwe on Thursday sentenced a former home minister to six years in prison after he was found guilty in...

Judge opposed dismissal of bribery charge against former Portage mayor Synder

A judge denied Thursday two motions to dismiss a soliciting bribes charge former Portage Mayor James Snyder will be retried on, according to court...

Germany issues international arrest warrant for founders of law firm at the centre of Panama Papers

Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the...

Former Blue Bell Creameries CEO indicted for fraud linked to 2015 listeria outbreak

The former president and CEO of Blue Bell Creameries L.P., a Texas ice cream company, was indicted Tuesday on wire fraud charges in connection with a scheme...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks