Former vice governor tried for bribery, power abuse, insider trading

0 Comment(s)Print E-mail Xinhua, October 25, 2018
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A former Chinese vice governor was tried for taking bribes, concealing overseas bank accounts, abuse of power and engaging in insider trading, a local court said Thursday.

Zhou Chunyu, former vice governor of Anhui Province, stood trial at the Intermediate People's Court of Jinan in Shandong Province.

Zhou was charged with abusing various positions he held in Anhui between 1996 and 2017 to help others in project contracting and business acquisition, accepting money and goods worth 13.65 million yuan (1.97 million U.S. dollars) in return.

When serving as the mayor of Bengbu City, Zhou illegally returned land-transfer fees to certain enterprises, resulting in state economic losses of 665 million yuan, the prosecutors said.

When serving as Party chief of Bengbu, Zhou deposited a total of 4.12 million U.S. dollars in foreign banks, they added.

Zhou was also accused of insider trading of stocks, to illegally gain more than 350 million yuan.

The prosecutors, the defendant and his lawyers cross-examined evidence and gave full testimonies.

Zhou confessed and expressed remorse in court.

More than 90 people including legislators, political advisors and journalists attended the trial.

The court will announce the verdict at a later date. 

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