{"id":19090,"date":"2008-04-07T11:27:53","date_gmt":"2008-04-07T18:27:53","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/2008\/04\/tycoon-jailed-in-china-scandal\/"},"modified":"2008-04-07T11:28:59","modified_gmt":"2008-04-07T18:28:59","slug":"tycoon-jailed-in-china-scandal","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2008\/04\/tycoon-jailed-in-china-scandal\/","title":{"rendered":"Tycoon Jailed in China Scandal"},"content":{"rendered":"<p>Shanghai financier <a href=\"http:\/\/www.forbes.com\/lists\/2005\/74\/8J7H.html\">Zhang Rongkun<\/a> (\u5f20\u8363\u5764) was sentenced to 19 years jail today for his role in one of the country\u2019s biggest corruption scandals in recent years. <a href=\"http:\/\/www.thetimes.co.za\/News\/Article.aspx?id=743218\">From AFP (via The Times, South Africa)<\/a>:<\/p>\n<blockquote><p>Zhang, who was at the centre of the multi-billion dollar graft scandal that led to the fall of disgraced Shanghai party boss Chen Liangyu, was convicted on five counts of bribery and market fraud, Caijing magazine said.<\/p>\n<p>The Songyuan city court in Jilin province also meted out fines of 282 million yuan (40 million dollars) to two companies controlled by Zhang, Feidian Development Investment and Development and Fuxi Investments.<\/p>\n<p>Zhang, who said he would appeal, also had personal assets worth 1.3 billion yuan confiscated.<\/p>\n<p>The scandal that rocked Shanghai politics when it emerged in mid-2006 has led to a string of tough convictions among many of the 20 or more officials and businessmen involved in the theft of the economic hub\u2019s pension fund.<\/p>\n<p>The State Audit Office revealed new figures last month that put the amount of pilfered cash at 33.9 billion yuan (4.8 billion dollars), 10 times more than the original estimate of 480 million dollars.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Shanghai financier Zhang Rongkun (\u5f20\u8363\u5764) was sentenced to 19 years jail today for his role in one of the country\u2019s biggest corruption scandals in recent years. From AFP (via The Times, South Africa): Zhang, who was at the centre of the multi-billion dollar graft scandal that led to the fall of disgraced Shanghai party boss [&hellip;]<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2,5805,5],"tags":[3908],"class_list":["post-19090","post","type-post","status-publish","format-standard","hentry","category-economy","category-main","category-society","tag-zhang-rongkun","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tycoon Jailed in China Scandal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2008\/04\/tycoon-jailed-in-china-scandal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tycoon Jailed in China Scandal\" \/>\n<meta property=\"og:description\" content=\"Shanghai financier Zhang Rongkun (\u5f20\u8363\u5764) was sentenced to 19 years jail today for his role in one of the country\u2019s biggest corruption scandals in recent years. 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