Zhang Rongkun

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...

Tycoon Jailed in China Scandal

Shanghai financier Zhang Rongkun (张荣坤) was sentenced to 19 years jail today for his role in one of the country’s biggest corruption scandals in recent years. From AFP (via The Times, South Africa): Zhang, who was at the centre...

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 […]

Suspects of Social Security Fund Scandal Held – Cao Li

From China Daily: Most of the suspects involved in the misappropriation of more than 3 billion yuan ($386 million) from Shanghai’s social security fund have been turned over to judicial departments for prosecution, Mayor Han Zheng was quoted by the Shanghai Securities News as saying… In July, investigators discovered that 3.45 billion yuan had been […]

First Arrest Made in Shanghai Corruption Scandal – Reuters

From Reuters: Chinese authorities have made their first known arrest in a corruption scandal involving Shanghai’s social security funds, detaining one of the country’s richest men. Zhang Rongkun(º†Ëç£Âù§), chairman of Fuxi Investment Holding Co., has been arrested, the private investment firm said in a one-sentence statement obtained on Saturday. Company spokesmen could not be reached […]



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