Yu Zhifei, former chief of the Shanghai Formula One racing
circuit and the man who introduced the sport to China in 2004,
plans to appeal his four-year jail sentence for graft, his lawyer
said on Monday.
Yu will lodge his appeal before January 13, the deadline for the
ten-day appeal period under Chinese law, after his first verdict
was announced on Thursday, Yu's lawyer Zhang Tiefeng told
Xinhua.
Yu, 54, also former board chairman of Shanghai Shenhua Football
Club, was found guilty of misappropriating 1.05 million yuan
(nearly US$144,000) in corporate funds to buy a house, according to
the Wuhu City Intermediate People's Court in eastern Anhui
Province.
The court sentenced Yu on Thursday to four years in jail. He was
also fined 300,000 yuan (about US$41,000).
The court heard Yu had illegally transferred 800,000 yuan from
the Shanghai Shenhua Football Club in 1997 to a Shanghai real
estate developer to pay for a 2.43-million yuan house. The amount
of money was embezzled in the name of "consultation service
fees".
In 1999, Yu misappropriated another 250,000 yuan from a
Shenhua-funded international trade company to pay the remaining
debt, claiming the money had been used on "public welfare
advertisements" during that year's Shanghai chrysanthemum
exhibition.
The court said that because Yu had confessed to some of his
criminal actions, he had been handed a lighter sentence.
(Xinhua News Agency January 8, 2008)