China oilfield firm chief sentenced to death
(Reuters)
Updated: 2006-06-26 16:11
China has sentenced to death the former president of a firm connected
with the country's number-two oilfield for taking bribes and embezzling nearly 37
million yuan ($4.62 million), a newspaper said on Monday.
Li Rongxing used his job at Sinopec unit Shengli Oilfield Daming Group to
siphon off the cash between April 1994 and December 2003, the Beijing News
reported.
The money came from a range of schemes, including inflating property prices.
Li also accepted some 4.83 million yuan in gifts, ranging from cash to high-tech
music systems, the report added.
The sentence handed down by the Taian city people's intermediate court
stripped Li of his political rights but suspended the execution for two years.
Suspended death sentences in China are traditionally commuted to life
imprisonment.
Chinese leaders have said the government faces self-destruction if it fails
to curb graft and has launched a series of campaigns to crack down on corrupt
officials.
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