Beijing real estate mogul Ren Zhiqiang sentenced to 18 years in prison for corruption and bribery – BBC News



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Ren Zhiqiang is a well-known real estate businessman in China, he was elected as a representative of the Xicheng District People's Congress in Beijing and a member of the Beijing Municipal Committee of the CPPCC.

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Ren Zhiqiang is a well-known real estate businessman in China, he was elected as a representative of the Xicheng District People’s Congress in Beijing and a member of the Beijing Municipal Committee of the CPPCC.

The Second Intermediate People’s Court of Beijing on Tuesday (September 22) issued a first instance verdict on the suspected corruption and bribery case of real estate mogul Ren Zhiqiang, convicting him of corruption, bribery, embezzlement of public funds and abuse of power. by the personnel of the state company and sentenced him to a fixed-term prison sentence. For 18 years, he was fined 4.2 million yuan (RMB, the same below).

Ren Zhiqiang is a Chinese real estate businessman and the famous “Second Red Generation” of the CCP. Earlier this year, he wrote an article severely criticizing Chinese leader Xi Jinping. His friends once said that the CCP’s handling of Ren Zhiqiang was “political persecution.”

Convicted of four charges and sentenced to 18 years in prison

The Second Intermediate People’s Court of Beijing announced that on Tuesday, the former president of Beijing Huayuan Group Co., Ltd., Ren Zhiqiang, was sentenced to corruption and other crimes.

According to the notice, the court found that from 2003 to 2017, Ren Zhiqiang took advantage of his position to embezzle more than RMB 49.74 million in public funds; accepted bribes of more than 1.25 million RMB; embezzled public funds of RMB 61.20 million; abuse of its power caused particularly serious losses to state holding companies 1,167 More than 100 million yuan, including the loss of ownership of state shareholder Huayuan Group of more than 53.78 million yuan, and Ren Zhiqiang’s personal profit of more than 19.41 million yuan.

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