China’s Former F1 Track Chief Sentenced To Four Years – AFP

From AFP:

The man who helped bring Formula One racing to China was sentenced on Thursday to four years in jail, the latest casualty of a massive Shanghai corruption scandal, state press and a court official said.

Yu Zhifei, 55, was sentenced after being found guilty of embezzling 1.05 million yuan (around 140,000 dollars) in public funds as part of a scheme to buy a home at a reduced price, the Caijing business magazine said.

Yu also was fined 300,000 yuan, according to the verdict announced by the Intermediate People’s Court in Wuhu city in the eastern province of Anhui, it said in a report on its website. [Full Text]

January 3, 2008, 4:10 AM
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Categories: Law