The former board chairman of China's leading liquor producer, the Gujing Group, was sentenced to life imprisonment on Thursday for taking bribes of up to 10 million yuan (US$1.46 million).
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The former board chairman of China's leading liquor producer, the Gujing Group, was sentenced to life imprisonment on Thursday for taking bribes of up to 10 million yuan (US$1.46 million).
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Wang Xiaojin, 59, also former president of the company, had allhis personal property and illegal earnings confiscated, according to the sentence handed down by the Intermediate People's Court in Anhui's Suzhou City.
He was convicted of taking bribes from liquor factories, advertising agencies and other companies in return for offering preferential treatment between October 1991 and March 2007. During this time, he took advantage of his post to help others obtain illegal profits in raw material purchase, business operation, advertisement contracting and other areas, the court heard.
He was put under investigation in April 2007 and later arrested.
Wang said on Thursday he would decide whether to appeal or not after careful consideration.
The state-owned Gujin Group is based in Anhui's Bozhou City andis the parent company of the Shenzhen-listed Anhui Gujing Distillery Co. Ltd.
Gujing dropped 9.02 percent in Thursday trading to 6.05 yuan (88 US cents).