Monday, September 29, 2008

Sentence reduced for former Chinese beverage executive

Guangdong Provincial Higher People's Court reduced the original sentence for a former board chairman of Jianlibao Group Co. Ltd.

The company was once a soft beverage giant in south China.

Zhang Hai, will now serve 10 years in jail instead of 15.

He was convicted of embezzling corporate funds in February 2007 by Foshan City Intermediate People's Court.

Zhang illegally possessed 120.7 million yuan of public funds belonging to Jianlibao Group Co. Ltd. He also misappropriated 86.44 million yuan .

He revealed the name of someone the police were looking for in a house robbery in February last year.

For that information, Zhang's sentence was reduced by five years.

Source: Xinhua

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