• Thu
  • Jul 10, 2014
  • Updated: 2:07pm
NewsChina
CORRUPTION

Seized assets much more than case against disgraced rail boss Liu Zhijun

PUBLISHED : Tuesday, 11 June, 2013, 12:00am
UPDATED : Tuesday, 11 June, 2013, 1:38pm
 

Investigations into disgraced rail minister Liu Zhijun and other "related cases" have resulted in the recovery of almost 350 flats and more than 900 million yuan (HK$1.14 billion), according to a Beijing newspaper affiliated with Xinhua.

Citing indictments in Liu's corruption trial, the Beijing Times said law-enforcement officers had recovered the assets during their investigations. Yesterday's report did not mention further details of the related cases.

The total amount of assets recovered is much larger than the amount of bribes that prosecutors in Liu's graft case have accuse him of taking.

On trial at Beijing No. 2 Intermediate People's Court on Sunday, Liu was accused of using his position of influence to help business associates win promotions and project contracts, and of accepting 64.6 million yuan in unspecified bribes between 1986 and 2011, according to an indictment reported by the official Xinhua News Agency.

But the Times reported yesterday that in other cases related to Liu's abuse of his official power, officials had also seized large amounts of cash in various currencies. These include 795.5 million yuan, HK$85 million, US$235,000 and 2.2 million euro (HK$22.5 million). Also recovered were other assets, such as shares, vehicles, flats and other valuables, according to the report. 

The report did not explain why those assets were not included in the charges against Liu.

Liu, who has admitted the charges, could the face the death penalty or life in jail if found guilty.

However, Liu's defence lawyer, Qian Lieyang , has said that prosecutors had suggested a more lenient sentence because Liu had confessed during his detention to all of his crimes and had helped recover most of the ill-gotten gains.

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This article is now closed to comments

2crazy4words
Mind blowing numbers but only the tip of the iceberg. Just consider all those lower in the graft "food chain" who facilitated this practice and the numbers would probably double or triple.
Unfortunately graft is endemic in PRC to the point it's becoming part of the culture and socially destabilising. Abuse of power and disparity of wealth are the historical triggers for civil unrest.
hongkiejj@malaysiaboleh
President Xi is doing the right thing....add oil !!!! oh..btw, the amount is staggering.... the govt should properly use them to fund charity or education...China is on the right direction...slow and steady perhaps but still, the end results matters more.
samsung
Niced
samsung
Nice
samsung
Nice
fearonjones
wow, is it really 9 rmb to 1 hk$???!!!!
dng18dng18
"795.5 million yuan, HK$85 million....."
I think the article is trying to say the guy held cash of different currencies instead...
lokuohsiung
Is anyone actually proof reading your articles? They should be fired.
Michael Lee
The numbers seem to be an afterthought.
 
 
 
 
 

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