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— Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News

BEIJING: Chinese real estate tycoon and outspoken critic of President Xi Jinping was jailed for 18 years on Tuesday (Sep 22) for “corruption, bribery and embezzlement of public funds”, a court statement said.

Ren Zhiqiang – once an elite among the ruling Communist Party’s inner circle – disappeared from the public eye in March, shortly after penning an essay that was fiercely critical of Xi’s response to the coronavirus outbreak.

Tuesday’s verdict said Ren embezzled almost 50 million yuan (US$7.4 million) of public funds and accepted bribes worth 1.25 million yuan, according to a statement from the Beijing No 2 Intermediate People’s Court.

It said the 69-year-old “voluntarily and truthfully confessed all his crimes”, and would not appeal the court’s decision.

 

Source: Chinese tycoon and Xi Jinping critic Ren Zhiqiang jailed for 18 years for corruption – CNA







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