Public housing official executed over graft
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A public housing official was executed in central China's Hunan Province Thursday for graft and embezzlement of public funds.
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Li Shibiao executed over graft. |
Li Shubiao, former head of the Administrative Center for Housing Accumulation Funds of Chenzhou City, defrauded banks of about 57 million yuan (8.3 million U.S. dollars). He also embezzled more than 60 million yuan in funds under his supervision, said Luo Zhonggui, spokesman of the Chenzhou Intermediate People's Court.
He mainly used the funds to gamble overseas.
His execution was approved by the Supreme People's Court, Luo said.
Li appealed after he was sentenced to death in the first trial in 2005. The sentence was upheld in 2008 in the second trial. All his property was confiscated.
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