pension fund scandal

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Former Stats Minister, Downed, Resurfaces with CNOOC

Not everything is known about the re-emergence of former minister of the statistics bureau, now working as a senior researcher for a CNOOC unit. Probably more to come. Translated by CDT, from Oriental Web: Many wondered if any...

Chen’s Son Has Day In Court Over Fund Scandal

From Shanghai Daily: The son of Shanghai’s former Party chief Chen Liangyu was jailed for three years in Tianjin yesterday, with four years’ probation, over his involvement in the infamous Shanghai pension-fund...

China Court Rejects Appeal By Jailed Tycoon

From Reuters: A Chinese court on Sunday rejected an appeal against a 19-year jail term handed down to a tycoon embroiled in a huge Shanghai social security fund scandal, a financial magazine said in its online edition. Once one...

Sunshine Law and the Case of Chen Liangyu

From Caijing Magazine: On April 4, the gavel came down for the sentencing of Chen Liangyu. This former member of the Politburo and one-time Shanghai party secretary will spend 18 years in prison after being found guilty of...

Ex-Shanghai Party Boss Accepts 18-year Jail Term

From Reuters: Shanghai’s disgraced Communist Party chief, jailed for 18 years this month for corruption, has decided not to appeal, state media said on Tuesday. Chen Liangyu was found guilty of taking bribes and abuse of...

Ex-Party Boss in China Gets 18 Years (Update)

The New York Times reports on Chen Liangyu, saying “His downfall, after China’s top leaders decided to challenge his lock on power in his prosperous and politically powerful coastal city, is the fallout of an elite...

End Of The Line For A Shanghai Scandal

From Caijing Magazine: The Shanghai pension fund scandal that came to light in the summer 2006 involved some 30 people including major political figures, senior managers at state-owned enterprises and wealthy businessmen. After...

Playing in China: Shanghai’s Scandal

The Wall Street Journal reports on a Party-produced documentary about the men behind the Shanghai pension fund scandal: Middle-aged men, behind bars and dressed in prison uniforms, wipe away tears as they admit on camera to...

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 […]

Shanghai “First Secretary” Gets Life – Xinhua

This is Qin Yu (秦裕), yet another domino tile among the many downed in the Shanghai pension fund scandal following the downfall of former Shanghai Party chief Chen Liangyu. Translated by CDT from Xinhua: Known as Shanghai’s “super secretary (上海第一秘)” and “one-month district governor (一个月区长),” Qin Yu served as secretary to Chen Liangyu when Chen […]

Pension-scandal Trials Start In Jilin – Lydia Chen

From Shanghai Daily: The trial of a key figure in Shanghai’s pension scandal started in northeastern China’s Jilin Province yesterday morning. Zhang Rongkun, 39, appeared in the Intermediate Court of Songyuan City, Jilin, at 8:40am charged with bribing high-ranking officials to illegally obtain more than three billion yuan (US$405 million) in loans from the pension […]

Trial For Official Over China Fund Scandal – AFP

From AFP: An official in one of China’s southern economic hubs has gone on trial for misusing around 100 million dollars of the city’s pension funds, state press reported Wednesday. Liu Yuhong (ÂàòÈõ®ÂÆè), who went on trial on Tuesday, is one of at least 18 people to face criminal charges in Guangzhou, the capital of […]

Chinese Property Tycoon Zhou Zhengyi Faces New Charges – People’s Daily Online

From People’s Daily Online: The Shanghai Municipal People’s Procuratorate has charged property tycoon Zhou Zhengyi with misappropriation of funds, bribery and forging VAT receipts, a procuratorate source said on Friday. Zhou, former president of Shanghai-based property firm Nongkai Development Group, was released from prison in May 2006 after completing a three-year sentence for fraud and […]

Gripping Conclusion Nears for Pension Fund Scandal – Yang Haipeng, Luo Changping and Chenzhong Xiaolu

From Caijing Magazine: In an apartment in the Luwan district of Shanghai, an old couple has saved a well-worn newspaper dated July 27, 2007. The headline reads, “China’s Central Commission for Discipline Inspection Answers Reporters on Chen Liangyu’s Serious Violation of Principles.” “We know nothing more than what was printed in the paper,” said the […]

Trials Start in China Pension Scandal – Christopher Bodeen

From AP, via Guardian Unlimited: Trials have begun in a wide-ranging pension fund scandal in China’s business hub of Shanghai that brought down the city’s top official, a magazine reported. Seven people have been indicted in Shanghai, with the trial of Wang Guoxiong (ÁéãÂõΩÈõÑ), a manager with a city government investment arm, among those already […]

China Arrest Takes Scandal Into Politburo – Richard McGregor

From The Financial Times: The former political secretary to a member of China’s politburo has been detained in a widening probe over misuse of Shanghai’s pension funds, elevating the scandal for the first time into the inner-circle of the Chinese leadership. The detention of Wang Weigong, reported by a Chinese financial magazine on Friday, comes […]

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