A former executive of a state-owned firm has been sentenced to nine and half years in jail for taking bribes worth more than 5.47 million yuan (6,550) by Shanghai No.1 Intermediate People's court.
Li Jun, 57, became the vice president of Shanghai Huayi (Group) Company in 2009, at which point he was also promoted from general manager to chief executive of Shanghai Chlor-alkali Chemical Co, a listed arm of Huayi.
Most of the bribes came from Li's "old friend," a businessman surnamed Jin, according to Shanghai People's Procuratorate.
Li befriended Jin in 2002 via a relative who was Jin's legal adviser. Jin built a good relationship with Li by paying for meals, goods and entertainment, and sending him gifts, from cash, valued at hundreds of thousands of yuan, to luxury watches, prosecutors said.
Gradually, Jin's company became a main supplier of Shanghai Chlor-alkali Chemical. In 2009, Jin's company was designated as the exclusive n-butane supplier, prosecutors said.
So when Li asked for 5 million yuan from Jin to buy a financial product in 2011, he didn't hesitate, and also he didn't demand the money back, prosecutors said.
Li was arrested in June 2015 and tried in September 2015.
According to the verdict, Li was also fined 1.3 million yuan.