A former chief financial officer and vice president of a major Chinese liquor maker was sentenced to 11 years in prison for bribery by a court in eastern Anhui Province on Thursday.
Liu Junde, 45, was convicted of accepting bribes totaling 1.48 million yuan (210,000 U.S. dollars) when he worked for the Gujing Group based in Bozhou City, Anhui, from 2003 to 2006, according to the verdict by the Bozhou City Intermediate People's Court.
The verdict said that Liu pocketed 80,000 yuan provided by a Shandong Province-based packaging company in four payments made between 2003 and 2006. The Shandong firm designed and produced bottle caps for Gujing Group.
Liu was also found guilty of accepting 20,000 U.S. dollars and a Swiss watch worth 24,000 yuan in 2004 from an Anhui company that borrowed money from a Gujing Group pawnshop subsidiary.
Liu also accepted a residence valued at 1.22 million yuan in Shanghai, which was bought for him by a Shenzhen-based company in southern Guangdong Province. The house was intended as the company's show of gratitude for loans totaling 70 million yuan he arranged for it when he was in charge of Gujing Group's fund management business, the verdict said.
Liu confessed to accepting the cash and property.
Under the verdict, his personal assets were confiscated. These amounted to personal property of 600,000 yuan, illegal gains of 80,000 yuan, 20,000 U.S. dollars, the Swiss watch and the Shanghai house.
Liu was arrested on Sept. 29. His trials were held on Feb. 20 and May 4.
