Chinese jails have been outsourcing tycoon Ren Zhiqiang for 18 years


China explicitly sentenced property tycoon Ren Zhiqiang to 18 years in prison on graft charges after he was linked’ to an article criticizing President Xi Jinping's handling of the coronavirus outbreak.
Chinese jails have been outsourcing tycoon Ren Zhiqiang for 18 years

The former chairman of Huawei Property Company was sentenced’ on Tuesday after being found guilty of four counts of corruption and abuse of power, the Beijing Intermediate People's Court said. The court said Ren received about 13,132 million yuan (19 19 million) in bribes and other illicit personal gains between 2003 and 2017, adding that he had agreed not to appeal.

According to the court, unspecified state-owned companies also suffered financial losses of about 117 million yuan in the allegations, which did not provide any details about the crimes. Ren was fined’ 4.2 million yuan.

The prison term was unusually long, although the death sentences of some of the individuals targeted during the eight-year anti-food campaign have been’ suspended. If he pronounces his full sentence, 69, by the time Ren is released’ he will be about 87 years old.

Shares of Huayuan Property remained unchanged until 1:01 p.m. After falling 1.7% earlier in Shanghai on Tuesday.

Low patience

The lawsuit sent a warning to any Xi critic who has been running China since 2012 and has gained more power than any other Communist Party leader since Mao Zedong. The "princess" son of a senior Commerce Ministry official - he had a reputation for sharp comments on social media platform Weibo in 2016 before criticizing Eleven's demands for more loyalty to the state media and suspended him from the party. Was done

The businessman has been under investigation since March, when he was widely speculated to be the source of an anonymous article accusing him of "crisis of governance" in his initial efforts to cover up the coronavirus in Wuhan. The piece warned against the growing concentration of power, and did not dress the country's "great leader" as "the house that was still determined to play the role of emperor."

Eleven initially urged officials to "understand, tolerate and forgive" some of the protests following the virus lockdown, but the epidemic has left China with little patience as it threatens decades-long economic boom. What a demonstration. A prominent law professor at Tsinghua University was jailed’ for publishing an article criticizing personal rule, while a retired Central Party school professor lost his pension after delivering a speech urging a change of leader. Were done

Authorities have raised a series of allegations against Ren, saying he received "golf club membership" in July and that he was "gathering with his children to amass wealth without restraint." ۔ “He was accused of "tarnishing the image of the party and the country, distorting party and military history, disloyalty and dishonesty to the party." Ren was also expelled’ from the party, usually the last step before the prosecution.

Some of Ren's supporters have expressed skepticism about the allegations, saying that Ren had conducted an audit of Huan's property in 2011 before retiring from his position, which should have led to wrongdoing. The company said in 2015 that it had approved a review of the audit report.

The crackdown comes just days after Ghaith praised China's success in suppressing the virus in a tumultuous program in Beijing. "This record demonstrates the virtues of one-party rule," he said.


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