Scam over machine parts leads to jail term
Print Edition
TWO people were convicted of “smuggling” textile machine components, valued at 100 million yuan (US$14.5 million), after declaring the products to be 90 percent lower than their real value, city customs officials said yesterday.
One of the convicted, surnamed Ma, was sentenced by Shanghai No.3 Intermediate People’s Court to an eight-year jail term; the other, surnamed Zong, was sentenced for three years with a three-year probation. The textile company was also fined 50 million yuan.
The products included highly valuable pins for guaranteeing manufacturing quality.
In January last year, the customs found the company had declared valuable and complex components at prices similar to those of ordinary steel products.
The authority later discovered three sets of invoices in the company’s computer system: one with an inflated price to display to clients in China, one with a much lower price for declaration at customs to evade tax, and one with the real sales price for settlement with the German supplier Staedtler + Uhl Nadelsysteme.
According to customs officials, Ma proposed the tariff system with the foreign owner of the firm, a woman surnamed Hildmann, who accepted the idea.
The authority said that as the textile machine component was a niche market, the textile company accounted for 90 percent of the specialized component imports into China. The company’s commissioned products sales revenue was put at around 30 million yuan a year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
