Home>News Center>China
       
 

Boss who 'stole millions' goes on trial
By Liu Li (China Daily)
Updated: 2005-03-02 06:26

A company boss who has been charged with swindling nearly 1.4 billion yuan (US$170 million) went on trial yesterday in Beijing.

The 49-year-old Liu Fuchen, the chief managing officer for 10 Beijing-based companies, is accused of embezzling 536 million yuan (US$65 million) in treasury bonds. He is also accused of taking 670 million yuan (US$81 million) in cash and defrauding 165 million yuan (US$20 million) from banks between 1997 and 1998.

Liu denied the accusations made by the prosecutor at the trial, which is taking place at the Beijing No 2 Intermediate People's Court.

"As the assistant manager of the companies, I did my work under the instruction of the manager Guan Ronghua," he said.

"Indeed, I did not know the real condition of the companies at all," Liu claimed.

He was arrested by police in 2003.

It is expected that the hearing will continue today and tomorrow due to the complexity of the case, sources with the court said.

After an introduction from Liu, a business office of Beijing Securities signed a contract in 1996 with a Hunan-based stock sales office to act as an agent for treasury bond sales.

According to the contract, all the sales revenue was transferred to Liu's account by the Beijing Securities business office, which received transaction fees, it is claimed.

Liu acquired 446 million yuan (US$54 million) in two instalments in this way from 1997 to 1998.

Shi Xinji and Yan Yuqing, managers of the Beijing Securities business office, also embezzled another 90 million yuan (US$11 million) from government bond trading with an insurance company at their office.

That fund was transferred to Liu's account as well, according to the indictment.

The public prosecutor also said that Liu colluded with Feng Jun, a top official with a China Everbright Bank branch in 1997.

Feng illegally transferred 41 instalments of savings, amounting to over 670 million yuan (US$81 million), to Liu's account.

Liu also asked the Beijing Securities business office to provide fake guarantees for five companies operated by him.

Using the guarantees, the defendant swindled a branch of the China Everbright Bank out of 165 million yuan (US$20 million) in 1998, according to the charge.

The public prosecutor said that Liu had committed the crimes of misappropriating public funds and contractual fraud.

(China Daily 03/02/2005 page3)



 
  Today's Top News     Top China News
 

Beijing seeks best of the best for Olympics

 

   
 

Ease of incorporating opens doors

 

   
 

President Hu to address Fortune global forum

 

   
 

Foreign agencies to issue renminbi bonds

 

   
 

Access widened for Taiwan farm goods

 

   
 

French hostage in Iraq pleads for help

 

   
  China's divorce rate up 21.2 percent in 2004
   
  Ethnic minorities experience progress
   
  GDP ecological costs closely calculated
   
  Legislature passes renewable energy bill
   
  Survey shows stock market top concern
   
  Telecom legislation speeds up
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 国产欧美另类久久久精品免费| 性欧美大战久久久久久久野外| 亚洲欧美另类国产| 99精品视频免费观看| 日本69式xxx视频| 亚洲av永久无码精品三区在线4| 波多野结衣上班族| 国产好痛疼轻点好爽的视频| 91制片厂制作果冻传媒168| 日本欧美在线观看| 偷炮少妇宾馆半推半就激情| 色综合久久天天综线观看| 国产成视频在线观看| 18禁裸乳无遮挡啪啪无码免费| 把水管开水放b里是什么感觉 | 美女尿口扒开图片免费| 国产又粗又长又硬免费视频| 99精品热女视频专线| 强波多野结衣痴汉电车| 丰满老熟妇好大bbbbb| 欧美金发白嫩在线播放| 免费一区区三区四区| 黑冰女王踩踏视频免费专区| 天天躁夜夜躁天干天干2020| 久久精品中文字幕一区| 欧美乱妇在线观看| 午夜私人影院免费体验区| 亚洲欧美日韩国产一区图片| 在公交车上弄到高c了公交车视频| 一本一本久久a久久精品综合麻豆| 欧美XXXXXBBBB| 免费精品国产自产拍观看| 老司机在线精品| 国产日韩精品一区二区在线观看| 一级国产a级a毛片无卡| 护士人妻hd中文字幕| 久久久不卡国产精品一区二区| 日韩精品福利在线| 女人被躁免费视频| 国产一级一级一级国产片| 国产精品制服丝袜一区|