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Insurance workers sentenced to prison for embezzlement of public funds
( 2003-12-05 15:10) (Xinhua)

Two workers of the People's Insurance Co., of China (PICC) Yunnan Branch have been sentenced to jail terms for misappropriating huge amounts of public funds by the Intermediate People's Court of Kunming City, capital of southwest China's Yunnan Province.

Dai Yuntao, former deputy head of the planning and statistical section of the PICC Yunnan Branch, was given a life sentence for misappropriating more than 1.46 million yuan (some US$176,000) of public funds by taking advantage of his position at the insurance company, according to the court's verdict made public Thursday.

The court sentenced Wen Shangzhi, former head of the property insurance section of the Yunnan Branch of the PICC, to 15 years in jail on charges of embezzling over 1.46 million yuan of public funds.

The court ruled that Dai's personal property totaling one million yuan (US$120,000 ) and Wen's totaling 700,000 yuan (US$84,000 ) be confiscated.

 
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