Life term for ex-senior exec at FAW-VW
Print Edition
A former senior executive at FAW-Volkswagen Sales Co received a life sentence after he was found guilty of bribery.
Shi Tao, former deputy general manager of the company, was sentenced to life imprisonment for accepting 33 million yuan (US$5.3 million) in bribes and owning 26.7 million yuan worth of properties whose sources could not be identified, the Jilin Provincial Baishan Intermediate People’s Court found.
The court said Shi received bribes from 48 individuals and companies since 2006, mainly from advertisement partners and car dealers.
Shi was also found to help the partners get business orders from FAW-Volkswagen after taking the bribes in cash or in shares.
Shi hold 14 properties including at least three villas in Beijing and Changchun before his wrongdoing was exposed to the company during an audit in 2013. His case was then reported to the country’s graft procurator.
State-owned FAW is one of German carmaker Volkswagen’s joint venture partners in China.
Analysts say Chinese carmakers like FAW have too much power over dealers who are forced to compete fiercely for the authority to sell popular car models, which has made the industry a hotbed for corruption.
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